Miami-based Equity One invests $37.3M in cross-continental shopping center deal

North Miami-based shopping center owner and developer Equity One has invested $37.3 million in a collection of three distressed shopping centers in Arizona and California, according to the South Florida Business Journal. The investment was made alongside joint venture partners Vestar Development, a Phoenix-based commercial real estate firm, and Rockwood Capital, a private equity firm with offices in San Francisco and Los Angeles. Equity One currently has interests in upwards of 189 properties, totaling 19.5 million square feet. [SFBJ]