Net income for Equity One also doubled last year, to $83.8million from $35 million in 2008. The company also reports thatoccupancy at its 168 centers, totaling 19 million square feet,remained relatively stable over the year at just above 90%.

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"Overall, we are pleased with our fourth-quarter and full-yearperformance during 2009 and believe our relative stability reflectsour focus on operating fundamentals," Jeff Olson, Equity One CEO,stated in a release. "During the year, we were able to takeadvantage of value-enhancing transactions both in our investingactivities and on the acquisition front."

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During the fourth quarter, Equity One purchased the398,602-square-foot Westbury Plaza shopping center in Westbury, NYfor $103.7 million, along with an adjacent 22 acres for $24.5million. Olson said the company was able to close suchstrategically important acquisitions at a time when many realestate firms were challenged by the economy.

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Equity One built an acquisition pipeline of approximately $68million last year, including two grocery-anchored shopping centersin Ridgefield, CT and Broward County, FL. It also bought 766,573additional shares of DIM Vastgoed NV, a Dutch investment company inwhich Equity One already has a controlling stake.

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The company plans to buy between $150 million and $200 millionworth of assets, either in distress or troubled portfolios. It isalso considering expanding its core beyond grocery centers tolifestyle and regional malls.

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