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Westwood Financial Corp. Acquires Kansas City Hy-Vee Shopping Center for $18,346,125

10/05/06
Kansas City, KANSAS - Westwood Financial Corp. has acquired Stateline Center, a 101,990 square feet grocery-anchored shopping center by Hy-Vee Supermarket. Stateline Shopping Center is located in Kansas City at the NW corner of State Line Rd. and 76th St. The tenants include: Blockbuster Video, Reece and Nichols Realtors Office, Chicago Title, Baskin Robbins, Pride Cleaners, Great Clips and Alpha Graphics. The property was purchased from a partnership associated with The Desco Group. Bob Johnson and Randy Brown of The RH Johnson Company represented the Seller and the Buyer in the transaction.

"The acquisition of the Stateline Shopping Center is Westwood Financial Corp.'s second shopping center in the Kansas City area," said Joe Dykstra, Executive Vice President of Westwood Financial Corp. "Stateline Center, anchored by a high volume Hy-Vee, is the dominant neighborhood shopping center in its trade area. The infill location is second to none and can't be replaced. "The property serves the affluent neighborhoods of Mission Hills, Prairie Village, and Leawood."

Stateline Center Shopping Center is Westwood Financial Corp.'s 5th acquisition for 2006. Westwood Financial has acquired 20 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 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 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