Gazit Globe-owned real estate company Gazman announced today (Sunday) that Gazit Horizons, a wholly owned subsidiary operating in the United States, will, together with the American company, American Land Ventures (ALV), establish a project for rent in downtown Tampa Bay, Florida. .
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The total expected investment in the project is $ 175 million. The company also announced that Citicon, a subsidiary of Gazit Globe operating in the Nordic countries, has launched the LIPPULAIVA project in the Helsinki area, Finland. The value of the project is estimated at 430 million euros. Thus, the company is investing a total of $ 644 million in the two projects.
The AER Tampa project in Florida will include 334 units in a 31-story building located on the riverfront, in the city’s artists’ quarter in front of the Hall of Culture and adjacent to the Tampa Art Museum. Upon completion, the project will include, in addition to apartments, 1,300 square meters From 450 parking spaces.
Construction of the project is expected to begin this month and last about two years. Funding for the project comes from equity and bank financing. Shachad in the area of $ 3.7 per square foot for a residential apartment.
The shopping center opened by Helsinki in Helsinki includes an area for rent of about 44,000 square meters above a new metro station. Among other things, it has three large supermarkets, and a food complex that includes about 20 local and international cafes and restaurants, as well as a municipal library of 2,900 square meters “R. A metro station was built inside the property, which will start operating in 2023. Adjacent to the shopping center are eight new residential buildings that will include about 560 units, of which Citicon will own about 400 units that it intends to rent. Citicon predicts that the project will generate an NOI of about 21 million euros a year.
Gazit Globe is a global real estate company engaged in the acquisition, improvement, development and management of income-producing real estate for mixed uses. The company has properties with an area of 160,000 square meters in Israel, 115,000 square meters in North America and 179,000 square meters in Brazil. 31 income-producing real estate properties, worth NIS 7.3 billion. The value of income-producing real estate under construction and land for construction is another NIS 1.5 billion. Next month, the general meeting of Gazit Globe shareholders will convene, at which a resolution will be put to the vote on changing the company’s name to G City.