The Real Deal Miami

Joint venture acquires two shopping centers

May 17, 2011 10:49AM

Equity One has formed a joint venture with New York Common Retirement
Fund to purchase a series of shopping centers in the U.S., buying two in
South Florida. The joint venire, which will be 70 percent owned by CRF
and 30 percent by Equity One, bought two Publix-anchored centers —
Country Walk Plaza in Miami and Veranda Shoppes in Plantation for a
total of $39.4 million. “This venture provides us with a highly-regarded
capital partner who shares our long term perspective on the ownership
of institutional quality shopping centers,” said Equity One CEO Jeff
Olson in a statement. [Retail
Traffic]