Equity One would pay United Investors an estimated $33 million in cash and $33 million in Equity One common stock. The terms include the assumption of about $82 million in United Investors' debt.
Houston real estate sources familiar with the transaction tell GlobeSt.com on condition of anonymity the Texas REIT is selling the assets at this time to revitalize shareholder value and to possibly avoid defending itself against recent shareholder lawsuits alleging mismanagement and unfair election practices. United Investors officials deny the charges.
This is the second major acquisition Equity One has announced within the past two weeks. The REIT has signed a definitive agreement to acquire the U.S. operations of Canadian-based Centrefund Realty Corp. in exchange for about $121 million in new Equity One common stock. Centrefund shareholders also need to approve the Houston deal.
Once it closes both deals, Equity One would own and operate 86 properties comprising 8.7 million sf with a total asset value of $678 million, according to Equity One.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
