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Westwood Financial Corp. Acquires Grocery Anchored Shopping Center in South Florida

12/20/07
Delray Beach, FLORIDA – Westwood Financial Corp. has acquired Shops at San Marco, an 81,916 square foot neighborhood center, anchored by a Publix supermarket. The Shops at San Marco is located on the northeast corner of the signalized intersection of Jog Road and Lake Ida Road. Tenants at the property include Starbucks, National City Bank, Wireless to Go/Verizon, Subway, Supercuts, UPS Store, Lox Around the Clock, and Ninos Restaurant. The property was purchased from Regency Centers and Dennis Carson and Anthony Blanco of CB Richard Ellis represented the Seller in the transaction.

“Shops at San Marco is a dominant, grocery-anchored center in Delray Beach with below market rents,” said Joe Dykstra, Executive Vice President of Westwood Financial Corp. “We are very excited about this acquisition and look forward to growing our presence in Florida. Shops at San Marco is our 2rd recent acquisition in Florida, and reinforces our dedication to acquiring dominant neighborhood retail properties in great locations.”

Shops at San Marco is Westwood Financial Corp's 6th acquisition for 2007. Westwood Financial Corp. has acquired over 30 properties in the last 3 years in Georgia, Texas, Florida, Colorado, California, Arizona, 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.

Headquartered in Los Angeles, Westwood Financial Corp has offices in Phoenix, Dallas and Sacramento and owns and operates more than 85 neighborhood, community and specialty retail shopping centers covering 17 major markets 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