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Westwood Financial Corp. Purchases $4.43 Million Shadow Anchored Denver Center

7/23/03
Denver, Colorado – Westwood Financial Corp. has announced the purchase of Town Square at Gateway Village, a neighborhood shopping center anchored by Albertsons.  Town Square at Gateway Village is located at the northwest corner of Chambers and 51st, approximately eight miles northeast of downtown Denver.  Outlot tenants not included in the purchase are First Bank and Albertsons Express Fuel Station.  Westwood Financial Corp. paid all cash for the property and completed the acquisition in 45 days.

“Town Square at Gateway Village marks our 9 th grocery anchored acquisition in the Denver area.  We are pleased to have purchased a well positioned property anchored by a leading supermarket chain.  Our business philosophy continues to focus on disposing of our non-core assets and re-investing the equity into larger, institutional quality grocery anchored shopping centers.  We will continue to aggressively pursue and acquire more shopping centers in Denver and throughout the West, Florida and Texas.”

The acquisition is consistent with Westwood Financial Corp’s program of buying institutional quality grocery-anchored shopping centers in the Western United States, Texas and Florida.  Westwood Financial Corp. currently owns shopping centers in 8 states, including California, Colorado, Washington, Nevada, Arizona, New York, North Carolina, and Florida.  Westwood Financial Corp.’s recent acquisitions include the Palizzi Marketplace, anchored by King Soopers, in Denver, Colorado; the Village Center West, anchored by King Soopers, in Denver, Colorado; Willow Run, anchored by Safeway, in Denver, Colorado; and the Eastlake Village Center South, anchored by Vons, in San Diego, California.  Westwood Financial Corp. has the ability to purchase all-cash and close in thirty days.

Westwood Financial Corp., is headquartered in Los Angeles with offices in Phoenix and Sacramento and owns and operates more than 84 properties throughout the Western United States.

For more information, please contact:

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