HUMBLE, TX-Westwood Financial Corp. has expanded its Texas portfolio with the acquisition of Atascocita Center, a Kroger-anchored shopping center located here in this Houston suburb.
The Los Angeles-based investor bought the 97,240-square-foot property at an 8% cap rate from Regency Centers Corp., a Florida-based shopping center REIT. Neither buyer nor seller has disclosed the sale price, but industry experts estimate the property traded for $9 million to $10 million.
Atascocita Center is Westwood Financial’s second grocery-anchored center acquisition in Texas this year. In April, the firm purchased Memorial Collection, a 103,330-square-foot shopping center anchored by Randall’s grocery store that was also owned by Regency Centers.
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