Equity One's principal investor, the Israeli holding company Gazit-Globe, paid $100 million last month for the majority stake in Toronto-based Centrefund.
Chaim Katzman, chairman, president and CEO of Equity One, is also chairman of both Gazit-Globe and Centrefund. The Canadian firm owns 70 properties in Florida, Texas and Canada totaling over 10 million sf of largely retail space valued in excess of $700 million.
Although Equity One is becoming actively involved in Centrefund's Florida and Texas real estate, the two firms will remain separate public companies.
South Florida properties coming under Equity One's wing include the Shops at Skylake in North Miami Beach and the Pine Island and Ridge plazas in Davie. The REIT now values its assets at $250 million in 30 properties, including 25 strip centers.
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