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Westwood Financial Corp. Acquires 14th Arizona Shopping Center

6/21/06
Phoenix, ARIZONA - Westwood Financial Corp. has acquired Legacy Village a community shopping center anchored by Fry's Supermarket and Target. Legacy Village is located in Phoenix at the NW corner of Baseline Road and 24th Street. The tenants in the offering include: Ross Dress for Less, Anna's Linens, Ace Hardware, Leslie's Pool Supply, Fashion Bug, Famous Footwear, Cold Stone Creamery, Sally Beauty Supply, H&R Block, GNC, GameStop, Subway, Metropolitan Mattress, Sprint Spectrum, Great Clips, The UPS Store, Rubio's, Starbucks, Jack in the Box and Payless Shoe Source. Legacy Village was developed in 2004. The property was purchased from The Pederson Group.

"We are very excited to own Legacy Village," said Joe Dykstra, Executive Vice President of Westwood Financial Corp. "Legacy Village is clearly the dominant shopping center in its trade area. The combination of Fry's Supermarket and Target and the quality of construction make this a 'class A' property." Legacy Village is Westwood Financial Corp.'s 21st retail property owned in Arizona.

Legacy Village Shopping Center is Westwood Financial Corp.'s 4th acquisition for 2006. Westwood Financial has acquired 19 shopping centers in the last 3 years in California, Texas, Arizona, Florida, Georgia, Colorado and Kansas. Westwood Financial Corp. focuses its acquisition efforts on acquiring either mature suburban neighborhood shopping centers anchored by the #1 or #2 grocery store in the properties' MSA or urban-located anchored or unachored 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 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