Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORTH MIAMI BEACH, FL-Everything is up at Equity One Inc. these days.

Third-quarter total revenue, funds from operations and FFO per share were $21 million, $7.4 million and 34 cents per share, increasing 54.6%, 55.9% and 9.7% respectively.

That performance compares with $13 million, $4.7 million and 31 cents per share in the comparable 2000 period.

For the nine months ended Sept. 30, total revenue, FFO and FFO per share were $58.3 million, $20.7 million and 99 cents per share, increasing 100.7%, 69.8% and 4.2% respectively.

In third quarter 2000, the retail REIT posted revenue of $29.1 million, FFO of $12.2 million and FFO per share of 95 cents.

“By closing the CEFUS and UIRT transactions, we have almost tripled the size of our company to $670 million of total assets and 84 properties,” Equity One’s chairman/CEO Chaim Katzman says in a prepared statement.”

The REIT now has $340 million of equity market capitalization and a 50.7% debt to total market capitalization ratio. “Our company is more economically diverse with our top 10 tenants accounting for only 21% of our annual minimum rent,” Katzman says.

Equity One’s properties are concentrated in Florida and Texas. The two recent acquisitions give the REIT 1.2 million sf of vacant space to lease.

Katzman calls that situation an “opportunity for significant growth in future periods.”

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.