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Westwood Financial Corp. Acquires Third Sacramento property: $19.3 Million Cameron Park Place

9/3/03
Sacramento, California – Westwood Financial Corp. has purchased Cameron Park Place, a Safeway-anchored neighborhood shopping center in the Sacramento suburb of Cameron Park. Located near the intersection of Cameron Park Drive and Highway 50, Cameron Park Place also includes national tenants Kragen, Round Table Pizza, Hallmark, Jenny Craig, RE/MAX Gold, and Togo’s/Baskin Robbins.

Cameron Park Place was initially developed in 1979, and underwent an extensive redevelopment in 1999, which included an expanded 55,456 square foot Safeway.  The property was purchased from a joint venture between Prudential Real Estate Investors, Developers Diversified Realty and Coventry Real Estate Partners.  Bill Palmer of CB Richard Ellis represented the Seller in the transaction.

“We are very excited about the acquisition of Cameron Park Place”, said Joe Dykstra, Executive Vice President of Westwood Financial Corp. “The purchase of Cameron Park Place underscores Westwood Financial Corp.’s commitment to owning institutional quality shopping centers in the Sacramento region. Westwood Financial Corp. now owns three properties in and around Sacramento, including Southgate Plaza, anchored by Wal-Mart and Albertsons, and Raley’s Center in North Highlands, anchored by Raley’s supermarket. We continue to have a strong appetite and will continue to aggressively pursue more high quality properties to further enhance our presence in the region. Our acquisition philosophy continues to focus on buying institutional quality grocery anchored properties 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 Pinnacle of Scottsdale, anchored by Safeway, in north Scottsdale, Arizona; Carefree Marketplace, anchored by Home Depot and Fry’s, in Phoenix, Arizona; Town Square at Gateway Village, anchored by Albertsons, in Denver, Colorado;the Village Center West, anchored by King Soopers, in Denver, Colorado; and Willow Run, anchored by Safeway, in Denver, Colorado.  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