REIT Equity One Pays $115M For LA Shopping Center

Law360, New York (November 17, 2011, 2:29 PM EST) -- Equity One Inc. has acquired a Los Angeles-area shopping center for $115 million in a move to boost its retail holdings in urban markets, the real estate investment trust said Wednesday.

Equity One purchased Culver Center, a 216,578-square-foot shopping center that is 99 percent leased and anchored by stores including Best Buy and Bally Total Fitness, the REIT said in a statement.

“Culver Center is a unique property which meets all of our acquisition criteria: major metropolitan market, severe supply constraints, strong tenant sales, below market...
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