Newmark Capital Markets has successfully completed the sale of 467 Washington Street in Boston, Massachusetts to Gazit Horizons, a wholly-owned subsidiary of Gazit-Globe (NYSE; TSX; TASE: GZT), a leading global real estate company focused on the ownership, development and management of shopping centers and mixed-use properties in major urban markets. On behalf of Frazer Capital, Newmark Capital Markets Vice Chairman Geoffrey Millerd, Associate Director Paul Penman and Financial Analyst Christopher Peterson of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the 10,500-square-foot retail asset.
467 Washington Street is a vacant, two-story plus lower-level asset located in the Downtown Crossing district of Boston. It is Gazit Horizons’ second acquisition in the submarket.
“467 Washington Street benefits from a location ripe for continued retailer interest given its pedestrian foot traffic and access to public transit,” said Penman. “The asset represents another strategic acquisition for Gazit Horizons in the Downtown Crossing neighborhood, and another successful execution for Frazer Capital.”
Gazit Horizons is actively engaged in discussions with several retailers to lease up the property, which is located near two MBTA subway stations and surrounded by some of the city’s newest retail, restaurant, hotel and residential developments.
“We are excited to continue to build our portfolio in Boston and be a part of the continued investment in Downtown Crossing,” said Alison Lies, Gazit Horizons’ senior vice president of acquisitions, who recently relocated to the Boston area to oversee the growth of the firm’s local portfolio. “We look forward to finding more opportunities to invest in the city.”
About Gazit Horizons, Inc.
Gazit Horizons, Inc. was formed in May 2017 and invests in income-producing real estate throughout the United States. With offices in Miami, New York City and Boston, the company actively pursues assets in targeted markets, focusing on major metro areas and growing urban cores of “gateway” cities. Gazit Horizons invests in larger properties with mixed-use potential and looks for unique opportunities to uncover value through diversity of use as well as redevelopment and proactive asset management.
About Gazit-Globe Ltd.
Gazit-Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed-use properties in North America, Brazil, Israel and northern, central and eastern Europe, located in urban growth markets. Gazit-Globe is listed on the New York Stock Exchange (NYSE: GZT), the Toronto Stock Exchange (TSX: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of March 31, 2018, Gazit-Globe owns and operates 104 properties with a gross leasable area of approximately 2.5 million square meters and a total value of approximately NIS 38.1 billion. In addition, the company owns 32.5% of First Capital Realty Inc. and, as of May 28, 2018, 4.8% of Regency Centers Corporation.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.