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Westwood Financial Sells Century Square for $2 Million

5/9/00
Century Square in Simi Valley Sold to Rainbow Investments of Calabasas
Simi Valley, Calif. -- Westwood Financial Corp. closed another transaction today for $2 million.  The Company sold Century Square, a Simi Valley business center, to a Calabasas real estate investment company.

Century Square is a two-story, retail/office complex located on the northwest corner of the intersection of Tapo Street and Valley Fair in Simi Valley, California, which has benefited from the City's recent redevelopment project.  The 47,000 square-foot center was 63% occupied at the time of sale.

Gary Seaton of Capital Commercial Real Estate (Simi Valley) represented the Buyer.  The Seller represented themselves as principal in the transaction.

Westwood Financial is continuing to dispose its non-core retail properties and reinvest the equity vis-à-vis 1031 tax deferred exchanged into grocery and drugstore anchored neighborhood shopping centers located throughout the Western U.S. 

Westwood Financial Corp., a leading real estate investment company, is located in Los Angeles, California.  The Company was founded in 1970 and today owns and operates over 100 commercial properties.

For more information, please contact:

Phillip Duke at 310-820-5443

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