The combined real estate investment trusts have retained the Equity One name. Now Equity One owns 180 properties of approximately 18.4 million sf in 12 states, and is one of the largest neighborhood shopping center owners in the southern United States.

"The combination of Equity One and IRT will create an unequaled shopping center platform in the southern United States, with particular emphasis on fast-growing, urban markets in Florida, Texas and Georgia," Chaim Katzman, chairman and CEO of Equity One, says in a statement. "We believe that the combined company will realize meaningful benefits in its leasing, management and capital markets activities, and provide superior returns for our stockholders."

Equity One president Doron Valero adds, "Our concentration on supermarket-anchored centers in strong markets, and significant relationships with the major supermarket anchors should position us for superior future growth."