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Westwood Financial Corp. Closes On 5th Texas Property: Lovers Lane Station

10/3/05
DALLAS, TEXAS – Westwood Financial Corp. has announced the acquisition of Lovers Lane Station, located on one of Dallas’ dominant retail intersections: Lovers Lane and Greenville Avenue.  Lovers Lane Station is located across the street from H.E.B. Central Market and Old Town Shopping Center.  Lovers Lane Station is a 50,771 square foot strip shopping center located at the southwest intersection of Greenville Avenue and Lovers Lane.  Lovers Lane Station includes such tenants as; Office Depot, CVS Pharmacy, United States Postal Service and Ace Cash Express.

“Lovers Lane Station is a “one of kind” location in the Park Cities area of Dallas” said Joe Dykstra, Executive Vice President of Westwood Financial Corp.  “Lovers Lane Station benefits from a unique combination of high daytime population and traffic, proximity to the affluence of the Park Cities, SMU and The Village, one of Dallas’ most successful multi-family developments.  This property is right down the middle of the plate for us.  We love location, location, location.  Westwood Financial Corp. will continue to seek out institutional quality properties in Texas, Florida, Georgia and throughout the West.”

Westwood Financial Corp. purchased Lovers Lane Station from Sherwood Trust and Regents Trust as an off-market deal.  Tom Salanty of Cushman Wakefield was the broker representing the seller.

The acquisition of Lovers Lane Station is consistent with Westwood Financial Corp.’s program of acquiring infill institutional quality shopping centers in the Western United States, Texas, Florida and Georgia.  The acquisition of Lovers Lane Station is Westwood Financial Corp.’s fifth in the state of Texas, after the Los Angeles-based firm purchased Las Colinas Plaza in December 2003, Old Town Shopping Center in February 2004, Village of Preston Hollow in March 2005 and Cypress Village Shopping Center in June 2005. Westwood Financial Corp. acquires all-cash and will close in thirty days.

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

For more information, please contact:

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