Equity One announced this week that it had acquired, or is under contract to acquire, four properties for a total investment of $260 million; today, The Commercial Observer reported two additional properties were under contract, bringing the total investment to $302.5 million for the shopping enters in he New York Metropolitan Region and Bethesda, Maryland. "These acquisitions are consistent with our strategy of owning retail properties in urban markets with visible growth through contractual rent increases, below market rents and redevelopment opportunities," said Jeff Olson, CEO of Equity One.
The properties include:
Westwood Complex, a 22-acre property located in Bethesda, Maryland under contract with Capital Properties. The transaction is initially structured as a $95 million mortgage loan which has been funded.
Clocktower Plaza, a 78,820 square foot shopping center located in Queens, NY, for $56 million from Winstanley Enterprises.
Equity One finalized the acquisition of a Heyman Properties portfolio of three properties in Connecticut: Darinor Plaza at 500 Connecticut Avenue in Norwalk, Post Road Plaza at 400 Boston Post Road in Darien and Compo Acres at 380-400 Post Road in East Westport.
The company also closed on the purchase of two previously announced acquisitions, Darinor Plaza and 1225 Second Avenue.
For more news and information visit Blumberg Capital Partners.
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