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Westwood Financial Corp. Sells Albertsons and Wal-Mart Shopping Center for $45,600,000

8/7/07
Sacramento, CALIFORNIA – Westwood Financial Corp. has sold Southgate Plaza, a 344,351 square foot neighborhood shopping center located at the intersection of Floren Road and Franklin Road in Sacramento, California. The shopping center is anchored by Albertsons and Wal-Mart and was purchased by Hill Companies, LLC of Englewood, Colorado. Bill Palmer of the Palmer Team in Sacramento represented the Buyer and Seller in the transaction.

“Westwood Financial Corp. bought Southgate from AEW as a value added opportunity in 2000. We successfully executed our business plan of improving the quality of the rent roll, added GLA, and increased rents. It was a good time to sell and move on,“ said Joe Dykstra, Executive Vice President. “The partnership will redeploy the equity through a series of tax-deferred exchanges to purchase properties in our target markets throughout the US.“

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