UIRT, Equity One Merger Vote Just Around the Corner

HOUSTON-United Investors Realty Trust is prepping for a shareholders vote Sept. 12 on resolutions for a takeover by Florida-based Equity One. The vote follows a settlement with a dissident stockholder group over investment policies.

By Jennifer Brenner Andrade | Updated on August 23, 2001

HOUSTON-United Investors Realty Trust shareholders will vote Sept. 12 on resolutions to clear the deck for a merger with Equity One of Florida. Voting is open to shareholders of record as of July 25. The Houston-based REIT mailed out proxy materials around Aug. 1.

UIRT brings 24 neighborhood and community shopping centers to Equity One’s fold. The REIT has 15 Texas properties, five Florida properties, three Arizona properties and one in Tennessee.

The 44th District Court in Dallas dismissed one of several suits against UIRT by dissident stockholder Southwest Securities Inc. The group has opted to forego an appeal pending a merger with Equity One. Southwest Securities has agreed to a settlement with Equity One of about $750,000 and closing the door on further litigation.

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