Equity One Acquires Interests in Three Retail Properties in JV with Vestar Development

Equity One, Inc. EQY announced today that it has formed joint ventures with Vestar Development Company and Rockwood Capital. The ventures have purchased three distressed shopping centers located in California and Arizona in two separate transactions occurring contemporaneously with the repayment of mortgage loans secured by these properties. Equity One's total equity investment in the ventures is approximately $37.3 million. Equity One and Vestar made a $35.0M secured bridge loan to one of the ventures. The portfolio was 74% occupied as of December 31, 2010.