Gazit-Globe Acquires Leasehold Interest in Brooklyn’s Ceasar’s Bay Shopping Center for $43 Million

by Camren Skelton

New York City — Gazit-Globe has acquired a leasehold interest in the Ceasar’s Bay Shopping Center in the Gravesend neighborhood of Brooklyn.

The Tel Aviv-based real estate company has acquired a 50 percent membership interest in SALTRU Associates Joint Venture LLC, a joint venture with Surrey Equities, which owns the leasehold interest in the shopping center. Gazit-Globe also acquired an approximately 50 percent interest in CBB Shore Parkway LLC, also a joint venture with Surrey Equities, which owns a tenant-in-common ownership interest in the property. Gazit-Globe’s total investment was $43 million. The 300,000-square-foot shopping center is home to tenants such as Best Buy, Modell’s Sporting Goods, Five Guys, Starbucks Coffee, Kohl’s, Kay Jewelers and Olive Garden. Pryor Cashman’s Todd Soloway, Danielle Schechner, Ari Tran and Ari Buchen represented Gazit-Globe in the transaction.

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