HUMBLE, TX-Westwood Financial Corp. has expanded its Texasportfolio with the acquisition of Atascocita Center, aKroger-anchored shopping center located here in this Houstonsuburb.
The Los Angeles-based investor bought the 97,240-square-footproperty at an 8% cap rate from Regency Centers Corp., aFlorida-based shopping center REIT. Neither buyer nor seller hasdisclosed the sale price, but industry experts estimate theproperty traded for $9 million to $10 million.
Atascocita Center is Westwood Financial’s secondgrocery-anchored center acquisition in Texas this year. In April,the firm purchased Memorial Collection, a 103,330-square-footshopping center anchored by Randall’s grocery store that was alsoowned by Regency Centers.
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