Fund’s Profile and Characteristics
GZIT11FII Gazit Malls
The Fund has active management in shopping centers with R$2.7 billion under management. The portfolio is in the largest urban center in the country with more than 140k sqm of own GLA: (i) Internacional Shopping de Guarulhos, (ii) Mais Shopping, (iii) Morumbi Town Shopping, (iv) Shopping Light and (v) Prado Boulevard.
Characteristics
Manager
Administrator
Institutional Presentation
Objective
Obtain income through the commercial operation of shopping malls, as well as capital gain through the purchase and sale of properties.
Fund’s name
Gazit Malls Fundo de Investimento Imobiliário
CNPJ
15.447.108/0001-02
Offering
CVM160 – Qualified Investor
ANBIMA Classification
FII Income/Active Management/Shopping Malls
Beginning of activities
March 2018
Number of quotas
21,841,231
Management Fee
0.75%
Performance Fee
20% of fund returns, already deducting all fees and expenses paid by the Fund, that exceed the accrued variation in the IPCA plus 6% p.a.
Ticker
GZIT11
About manager
The Gazit Brasil Asset Management Ltda. is in the process of accreditation with the CVM.
As of this date, the manager of Gazit Malls FII is BTG Pactual Gestora de Recursos Ltda. As provided in the Fund’s regulations, once duly accredited with both the CVM and ANBIMA, Gazit Brasil Asset Management Ltda., currently the Fund’s specialized consultant, will become its manager without the need for prior approval from the shareholders.
Gazit Brasil Asset Management is a real estate asset management with R$2.7bi AuM. Gazit Asset is a direct subsidiary of Gazit Brasil Ltda and an indirect subsidiary of the G City Group, a multinational group present in 12 countries with over 90 properties worldwide and more than $10 billion in assets. The Group is one of the leading international players in the real estate segment, including retail, office, and residential units located in cosmopolitan urban areas with high population density such as the United States, Israel, Brazil, and in North, Central, and Eastern Europe.
In Brazil, the company was founded in 2007 with a focus on acquiring and managing shopping centers in Latin America’s commercial capital, São Paulo.
About administrator
BTG Pactual Serviços Financeiros S.A. DTVM, a wholly-owned subsidiary of the BTG Pactual Group, is the group company dedicated exclusively to the management of third-party financial resources.
BTG manages more than R$680 billion and is among the largest asset managers in Brazil, with approximately 5,300 funds including Multimarket Investment Funds, Equity Investment Funds, Fixed Income Funds, Real Estate Funds, Rights Investment Funds Creditors and Equity Investment Funds.
It is the leader in Real Estate Fund Resource Managers in Brazil, with more than R$620 billion and approximately 150 funds under administration, holding more than 20% of the total market.