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Equity One Pursues Development

NORTH MIAMI BEACH, FL-The firm plans up to $100 million in new development annually.

By Debra Hazel | Updated on August 03, 2006

NORTH MIAMI BEACH, FL-Look for Equity One to focus more on development versus acquisition in the near future, executives said at the REIT’s second-quarter conference call.

The company, which has spent the last few years building its portfolio largely through acquisition, has approximately $153 million in ground-up and redevelopment projects in the pipeline, and plans a consistent stream of new developments in coming years.

“This is where we see our growth in the coming years,” said Chaim Katzman, chairman and CEO. “It’s going to be a combination [of development and acquisition], but clearly we will see more development as a result of our quest to buy more land.”

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