Westwood Financial Corp. Ends 2012 on High Note


Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of retail properties in the U.S., is reporting one of its most successful years in its 42-year history with more than $200 million in acquisitions and dispositions in 44 separate trades in 2012. “We are pleased with 2012 and are expecting 2013 to be more of the same,” said Joe Dykstra, executive VP of WFC.

Some of the highlights for 2012 include:

  • McDonald's Corp.: The sale of 19 former McDonald's Corp.-owned properties across the country, part of a 68-asset portfolio the company purchased in September 2010. The sold assets span 11 states and comprise a mixture of former McDonald's restaurant locations, non-restaurant locations, vacant buildings and land. WFC sold the 19 properties in a series of one-off transactions for values between $900 and $1.235 million, leaving three remaining assets for sale.
  • Wesleyan Station: The purchase, 86,631-square-foot retail center, Macon, Georgia.
  • Olive Square: The $6.2 million sale of the 88,255-square-foot Fry's-anchored retail center, Glendale, Arizona.
  • Pacific Plaza: The $7.4 million sale of the 43,902-square-foot retail center, Ontario, CA.
  • Willow Run Shopping Center: The $11.55 million sale of the 95,791-square-foot Safeway anchored retail center, Westminster, Colorado.
  • Sonora Village: The $46.6 sale of the 248,322-square-foot Best Buy and Staples-anchored retail center in Scottsdale, Arizona.
  • Inland Retail Portfolio: The purchase of the three retail centers in Texas -- a 29,897-square-foot Wal-Mart shadow anchored retail center; McDermott Towne Crossing and Towne Crossing, a 59,986-square-foot Target and Home shadow anchored retail center.
  • Beach Western Commons: The purchase of the 91,166-square-foot Kroger-anchored retail center, Fort Worth, Texas.
  • East Pointe Marketplace: The purchase of the 86,267-square-foot retail center and its first in Milwaukee.
  • Johnston Road Plaza: The purchase of the 79,508-square-foot Food Lion anchored retail center, Charlotte, North Carolina.
  • Shea Retail Center: The $3 million sale of the 12,716-square-foot retail, Scottsdale, Arizona.
  • Highland Commons: The $7 million sale of the 39,739-square-foot retail center, Austin, Texas.

Many of the acquisitions above represent WFC's strategy to use funds from numerous 2012 dispositions to invest in upscale retail and expand its outreach in the Southeast, Midwest and West and Southwest markets. In addition, WFC currently has several deals pending that are scheduled to close in January.

Erik Hamilton, ehamilton@hoytorg.com

Posted In: Press Releases