Israeli real estate firm Gazit-Globe posts Q3 loss

TEL AVIV, Nov 30 (Reuters) - Israeli real estate investment company Gazit-Globe Ltd (GLOB.TA) reported a third-quarter net loss on Sunday as it wrote-down the value of investment properties.

Its net loss for the three months was 461 million shekels ($117.6 million), or 3.68 shekels per share diluted, compared with a profit of 72 million shekels, or 0.56 shekel a share, in the same period last year.

Rental income fell 8 percent to 866 million shekels in the quarter. Excluding foreign currency depreciation, rental income increased 6 percent.

Gazit-Globe had said two weeks ago it would write down 590 million shekels in the value of its properties in the third quarter.

It had said it would write down 340 million shekels for its share in the decline in the fair value of investment properties among its subsidiaries and 250 million shekels for adjustments in the value of rights and commitments for investments in shares of Atrium European Real Estate ATRV.VI.

In August, Gazit-Globe and Citigroup unit (C.N) CPI agreed to jointly invest at least 800 million euros in troubled European developer Atrium, formerly known as Meinl European Land.

Gazit-Globe is the largest shareholder in Finland's Citycon (CTY1S.HE).

It operates in the United States through Equity One Inc (EQY.N), of which it owns 40 percent, and in Canada through First Capital Reality Inc (FCR.TO), of which it owns 54 percent.

($1 = 3.92 shekels)

(Reporting by Tova Cohen)