Income-producing real estate & holds "gazit globe".
Norstar exited 2025 with stronger assets, NIS 331 million of net profit and better EPRA metrics, but freedom at the parent is still limited. FFO weakened, attributable equity barely improved at all, and the parent's NIS 611 million of standalone debt still sets the pace at which…
Norstar's holdco discount stays deep not because G City's NAV failed to rise, but because the market still doubts the path through which that NAV becomes clean value at the parent. Minority leakage, leverage, and time are still absorbing too much of the improvement before it rea…
The repayment of Series 12 improved Norstar's timetable, but it did not free the parent. The near debt moved from emergency mode into a transition year, yet Series 13 and the 2027 to 2028 hump still decide whether the holdco discount can narrow.
