Haim Katzman (Flash 90, Gazit Globe)
Following the entry of Israel Canada into a significant investment in Gazit Globe, the company is expanding its operations in the US. Gazit Horizon, a subsidiary of Gazit Globe, has received permission from the Miami authorities to increase a real estate project it owns from 364 housing units to 504 housing units.
The expanded project is for rent in Miami, and is called the Brickell Gateway. The significant increase in the number of housing units will allow Gazit to build a more efficient building in Miami’s business and financial center that enjoys rapid growth and strong demand for housing, offices and commerce.
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In addition, the company announced that it had purchased a commercial property in the area of about 840 square meters for $ 20.1 million, which is now fully leased to five tenants, on a land area of about 1.3 dunams and is expected to produce additional flexibility for the Brickell Gateway project during development and rental.
The new property is Gazit Globe’s third acquisition in the Brickle area, following the successful June 2021 acquisition of the Maizon apartment building that includes 262 fully leased housing units, located two blocks south of the development project.
Jeff Mualem, CEO of Gazit Horizons: “Increasing the rights we received this week is a significant step in realizing our strategy in the Brickle area. We are big believers in this area, known as Florida’s “Mini Manhattan,” and the high demand in the past year in this area has proven that our thesis is correct. Increasing the number of housing units and purchasing the new property, in addition to our existing property in the area, increases the value of our properties and further improves our expectations of the Brickell Gateway project. We intend to work to further expand our operations in Brickle, as well as in other cities in Florida, New York and Boston. “
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