back

Westwood Financial Corp. Acquires Texas Shopping Center From Regency Centers

11/09/06
DALLAS, TEXAS - Westwood Financial Corp. has acquired Hebron Parkway in Dallas, Texas. Hebron Parkway, located at the Southwest corner of Old Denton Road and Hebron Parkway, is an Albertson's shadow-anchored neighborhood shopping center. Several of the tenants in the offering include: Starbucks, Sports Clips, Blockbuster, UPS Store, Great Clips, H&R Block, Carvel, Score Learning Centers, State Farm, CiCi's Pizza, Cool Cuts 4 Kids, GNC and The Little Gym. The property was developed in 1999. Jack Crews of Trammell Crow Company represented the Seller in the transaction. "

The acquisition of Hebron Parkway is Westwood Financial Corp.'s eighth acquisition in the state of Texas," said Joe Dykstra, Executive Vice President. "The rents are undervalued and the property is located at the dominant intersection within its trade area. We acquired the Kroger-anchored shopping center across the street earlier this year so it's a good fit for us. Both Albertsons and Kroger are doing very well and the area continues to grow; therefore, we expect significant rent growth for both properties."

Hebron Parkway Shopping Center is Westwood Financial Corp.'s 7th acquisition for 2006. Westwood Financial Corp. has acquired 22 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 80 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 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