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NORTH MIAMI BEACH, FL-With plans to focus on properties in coremarkets, locally based REIT Equity One Inc. plans to sell $250million in assets over the next two years, Equity One CEO JeffOlson said during a conference call Wednesday. The company expectsto sell $150 million in property in 2007 and $100 million in 2008."Our strategy is to focus on core markets and dispose of propertieswhere we don't have critical mass," Olson says.
The company reported that funds from operations for the fourthquarter were $20 million, or 27 cents per diluted share, comparedto $28 million, or 38 cents per diluted share, for the same periodin 2005. For the year ended Dec. 31, FFO was $110.3 million, or$1.48 per diluted share, compared to $124.8 million, or $1.67 perdiluted share a year ago.
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