Equity One Enters New York with Acquisition of Westbury Plaza

Published Friday, November 13, 2009

During its third quarter earnings report, North Miami Beach, Fla.-based shopping center REIT Equity One Inc. (NYSE: EQY) said that it had closed on the acquisition of the 400,000-square-foot Westbury Plaza in Nassau County, N.Y. for approximately $103.7 million. The property is anchored by Walmart and Costco. The purchase price reflects a capitalization rate of approximately 8 percent, according to Equity One. “The acquisition of Westbury Plaza clearly was a very important event for Equity One,” Equity One President Tom Caputo said in a statement. “We are delighted we had the opportunity to purchase such a ...

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