Equity One chairman and CEO Chaim Katzman says the REIT will recognize a $500,000 loss on the sale in the second quarter. Equity One also terminated the lease for the unoccupied Winn-Dixie store and will report termination revenue of $775,000.
Katzman says he is "pleased" with the deal, even at a loss, and "remains committed to an active process of selling non-core assets and recycling the capital into higher growth, urban infill properties in our target markets."
Equity One's 21-million-sf, 191-property portfolio consists of 129 supermarket-anchored shopping centers, 45 other retail-anchored properties, a self-storage facility, an industrial property and four retail developments.
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