Equity One and New York Common Retirement Fund enter into a JV to Acquire Grocery-Anchored Neighborhood Centers

Equity One, Inc. EQY announced today that it has formed a joint venture with New York Common Retirement Fund to acquire grocery-anchored centers throughout the United States. The joint venture will be 70% owned by CRF and 30% owned by EQY. Equity One will manage and lease properties acquired by the joint venture. CRF will be advised by LaSalle Investment Management. The joint venture has acquired two Publix anchored shopping centers – Country Walk Plaza in Miami, FL and Veranda Shoppes in Plantation, FL from Equity One – for a purchase price of $39.4 million. Collectively the centers were 96.7% occupied at March 31, 2011.