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Equity One Continues Asset-Sale Strategy

NORTH MIAMI BEACH, FL-In an ongoing sale of non-core assets, Equity One has $80 million of properties under contract and another $70 million on the market.

By Natalie Keith | Updated on October 31, 2007

NORTH MIAMI BEACH, FL-While market conditions have changed over the quarter, locally based Equity One Inc.’s strategy of focusing on its core retail assets has not. The company, shedding all non-core assets, has $80 million of properties under contract and $70 million left to sell.

“Much has changed in the marketplace over the quarter,” Equity One CEO Jeffrey Olson said during yesterday’s third-quarter earnings call. “However, our strategy remains the same. We plan to continue improving our core operations.”

Part of the company’s strategy in recent years is to sell off non-core assets. Late in 2006, the company announced plans to sell $250 million of properties over two years, $150 million in 2007 and $100 million in 2008.

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