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Westwood Financial Corp. Acquires First Florida Shopping Center located in South Tampa

4/13/06
TAMPA, FLORIDA - Westwood Financial Corp. has acquired Southtown Center, a Publix-anchored shopping center in South Tampa. Southtown Center is located at the Southwest corner of South Dale Mabry and Neptune St. The tenants at the property include Mercantile Bank, Massage Envy, Cold Stone Creamery, Planet Beach Tan, Moe's Southwest Grill, Relax the Back, Hair Masters, Trade Secret and 1-800-Flowers. Southtown was developed in 2006. The property was purchased from Capstone McCann, LLC. Mark Shellabarger of CB Richard Ellis represented the Seller in the transaction

"The acquisition of Southtown Center is Westwood Financial Corp.'s first property in Florida," said Joe Dykstra, Executive Vice President. "The combination of Publix, the upper income neighborhoods and the location on South Dale Mabry make this a great property. South Tampa is truly a supply constrained submarket. There is no more land available for development and redevelopment is very expensive. Southtown is a very good acquisition for us in Florida."

Southtown Center Shopping Center is Westwood Financial Corp.'s 1st acquisition for 2006. Westwood Financial Corp. has acquired 16 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 cites.

Westwood Financial Corp. is headquartered in Los Angeles with offices in Phoenix, Dallas and Sacramento and owns and operates more than 80 neighborhood, community and specialty retail shopping centers totaling over 5 million square feet in 10 states. Westwood Financial Corp. is a fully integrated real estate company that acquires, leases, and manages its real estate portfolio.

For general, acquisition, and leasing information for Westwood Financial Corp. please view the website at www.westfin.com.

For more information, please contact:

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