Gazit-Globe Launches US Investment Subsidiary
ByJeffrey Mooallem, a 19-year veteran of the commercial real estate industry, has been chosen by global real estate company Gazit-Globe Ltd. to head up its new U.S. investment subsidiary, Gazit Horizons Inc., that will seek income-producing assets throughout the U.S.
Mooallem, most recently a managing director at Federal Realty Investment Trust, has been named president & CEO of the new subsidiary that will have offices in Miami and New York City. He previously held executive positions at privately held Turnberry Associates in Miami and Equity One, a shopping center REIT that had been owned by Tel Aviv-based Gazit-Globe until it merged with Regency Centers Corp. in early March, creating the largest U.S. shopping center REIT by equity value with a total market capitalization of $15.6 billion. Gazit-Globe sold 2.8 million shares of Regency in early March but still holds 19.5 million shares, which the company said represents 11.5 percent of the issued and outstanding share capital of Regency…
