Los Angeles, CA – September 19, 2011 – (RealEstateRama) — Westwood Financial Corp. (http://www.westfin.com), one of the largest privately held owner-operators of retail properties in the U.S., is about to wrap up the biggest summer season in recent company history. The firm is prepared to comment on numerous deals that have helped shape the retail transaction marketplace in 2011.
The Los Angeles-based firm has overseen major transaction volume to the tune of $47 million in sales and $43 million in acquisitions from May 1 through August 31. These transactions involve only core shopping center deals. Westwood also has purchased two loans that are part of its value-add transaction program — one of Westwood Financial’s key strategic ventures.
Westwood Financial, which has satellite offices in Atlanta, Dallas and Scottsdale, Ariz., currently has a portfolio of more than 100 shopping centers and retail properties in 23 metropolitan markets. Always on the lookout for more acquisition/disposition opportunities, Westwood’s recent docket of transactions of this vital three-month period includes:
• The selling of the 56,945-square-foot Brea Center retail center in Brea, Calif., for $14.5 million in June.
• The June sale of the 34,749-square-foot Heritage Hills Shopping Center in Lone Tree, Colo., for $11.4 million.
• The July purchase of McCrimmon Corners, a 86,267-square-foot retail center in Morrisville, N.C.
• The purchase of Sanders Court Shopping Center in Northbrook, Ill., also in July, for $22 million.
• The $16.1 million sale in August of the Terravita Marketplace, a 102,733-square-foot retail center in Scottsdale, Ariz.
• The purchase of Town Center Lakeside, a 23,237-square-foot retail center in Sugar Land, Tex., in August for $5,400,000.
About Westwood Financial Corp.
Westwood Financial Corp., is one of the largest privately held owner-operators of retail properties in the U.S., with a track record spanning 40 years. Based in Los Angeles with satellite offices in Atlanta, Dallas and Scottsdale, Ariz., the firm currently has a portfolio consisting of more than 100 shopping centers and retail properties in 24 metropolitan markets. Founded in 1970 by Steven Fogel and Howard Banchik, the firm has evolved into a fully integrated real estate company that acquires, leases, and manages its real estate portfolio. The firm implements an acquisition strategy that focuses primarily on mature neighborhood, grocery anchored shopping centers with portfolio holdings in Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, Nebraska, Nevada, New York, North Carolina, South Carolina, Texas, and Washington. For more information, please visit www.westfin.com.
