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United Investors Wins Texas Lawsuit

NORTH MIAMI BEACH, FL-The Houston REIT negotiates a standstill agreement with Southwest Securities Inc. until Equity One of North Miami Beach, FL completes a proposed $155 million buyout of United Investors Realty Trust.

By David R. Corder | Updated on June 04, 2001

NORTH MIAMI BEACH, FL-United Investors Realty Trust has won a lawsuit that originally sought to block the sale of one of its Texas properties. The Houston REIT negotiated a standstill agreement with Southwest Securities Inc. until Equity One of North Miami Beach completes a proposed $155 million buyout of the Texas REIT.

The 44th District Court in Dallas dismissed all claims that Southwest filed last August against United over the pending sale of the University Park Shopping Center. Southwest Securities owned about 8.2% of the REIT’s outstanding shares as of April 2001.

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