“We are extremely pleased in how this year has turned out and are eagerly anticipating 2012,” said Joe Dykstra, executive vice president. “With our focus on the expansion of our Southeast portfolio, the acquisition of core, grocery-anchored centers and the expansion of our value-add platform, we are expecting 2012 to be even better than 2011.”
Some of the highlights for 2011 include:
• McCrimmon Corners: The purchase of the 86,267-square-
• El Segundo Crenshaw: The $5.4 million sale of El Segundo Crenshaw, a 17,675-square-
• Heritage Hills Shopping Center: The $11.350 million sale of Heritage Hills Shopping Center, a 56,945-square-
• Terravita Marketplace:
• The Brea Center: The $14.5 million sale of The Brea Center, a 56,945-square-
• Sanders Court: A $22 million purchase of Sanders Court Shopping Center, a 136,219-square-
• Lakeside Town Center: The purchase of, Lakeside Town Center, a 23,337-square-
• Pinnacle Shopping Center: The $28.8 million sale of Pinnacle Shopping Center, a 113,108-square-
• North Park Plaza: The purchase of the 101,361-square-
• Former McDonald’s Portfolio: The sale of 46 former McDonald’s Corp.-owned properties across the country, part of a 68-asset portfolio the company purchased in September 2010. The sold assets span 20 states and comprise a mixture of former McDonald’s restaurant locations, non-restaurant locations, vacant buildings and land. WFC sold the 36 properties in a series of one-off transactions for values between $5,000 and $1.55 million, leaving 22 remaining assets for sale. The company is currently under contract to sell four properties, while working on LOIs for six more and marketing the remaining 12.
• Crossroads of Tempe: The purchase of the 24,452-square-
• Stroh Ranch Retail Center: The purchase of, Stroh Ranch Retail Center, a 6,336-square-
• Barrett Creek Center: The purchase of, Barrett Creek Center, a 28,481-square-
• Valley Ridge Center: The purchase of, Valley Ridge Center, a 12,170-square-
• Camden Village: The purchase of, Camden Village, a 30,975-square-
• Hamilton Crossing: The purchase of, Hamilton Crossing, a 48,470-square-
• Dana Park Village Square: The $3.325 million sale of Dana Park Village Square, a 10,421-square-
• Shea Retail Center: The purchase of, Shea Retail Center, a 13,153-square-
• Crossroads of Tempe II: The purchase of the 15,059-square-
• Beverly III: The purchase of the 19,387-square-
• New Atlanta Office: The opening of a management office in Atlanta, which helps WFC reach its goal of doubling its Georgia retail portfolio over the next five years as the company continues to expand its portfolio through the Southeastern U.S.
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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.