Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORTH MIAMI BEACH, FL-In a deal valued at about $7.1 million, Equity One Inc. has closed on the sale of 650,000 shares of its publicly traded common stock to Alony-Hetz Properties & Investments Ltd.

Proceeds from the sale will be used for general corporate purposes and to offset some of the costs associated with Equity One’s pending acquisition and merger with Houston-based United Investors Realty Trust.

The North Miami Beach-based real estate investment trust originally announced in early August that the Ramat Gan, Israel-based real estate investment group intended to acquire about 1.3 million shares for a total value of about $14.1 million.

Exercising stock-purchase warrants, the Alony-Hetz group paid slightly less than $10.88 a piece for a stock that last traded at $11.19 on Sept. 10. The group agreed in October 2000 to exercise warrants totaling $32 million in Equity One common stock prior to December 2002.

Following the most recent purchase, the Alony-Hetz group owns about 2.98 million shares of Equity One common stock, or about 10.5% of the total outstanding on a fully diluted basis.

It is anticipated that once Equity One completes a pending merger with Canadian-based Centrefund Realty (U.S.) Corp., due to close on Sept. 20, the investment group would own about 10.6% of Equity One’s total stock outstanding.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.