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Westwood Financial Corp. Sells another California Non-Core Commercial Property for $5,000,000

3/23/07
Downey, CALIFORNIA – Westwood Financial Corp. has sold a Florence commercial property, located at the intersection of Florence Avenue and Lakewood Blvd in the city of Downey, California. Florence Shopping Center was 100% occupied by DaVita Dialisis and was purchased by a local buyer. The buyer was represented by Patrick Barnes of CBRE, while Westwood Financial Corp. was represented in-house by Eric Shulman.

“The sale of the Florence property is consistent with our ongoing efforts to dispose of our non-core assets and redeploy the equity into larger and higher quality real estate,“ said Joe Dykstra, Executive Vice President.

Westwood Financial Corp. has acquired over 30 shopping centers in the last 3 years in California, Texas, Arizona, Colorado, Georgia and Florida. Westwood Financial Corp. focuses its acquisition efforts on acquiring either mature suburban neighborhood shopping centers anchored by the #1 or #2 grocery stores in the properties' MSA or urban-located anchored or unanchored retail properties in major cities.

Westwood Financial Corp. is headquartered in Los Angeles with offices in Phoenix, Dallas and Sacramento and owns and operates more than 85 neighborhood, community and specialty retail shopping centers totaling over 5 million square feet in 11 states. Westwood Financial Corp. is a fully integrated real estate company that acquires, leases, and manages its real estate portfolio.

For more information, please contact:

Joe Dykstra, Executive Vice President
310-820-5443
jdykstra@westfin.com
www.westfin.com