Equity One Reshuffles Real Estate Deck

MIAMI-Equity One has been dumping and snapping up properties almost in the same breath lately—and Wall Street likes what it sees. Shares are up and the REIT closed on a $575 million credit line, promising more deals to come.

Equity One just sold two non-core assets and picked up a core asset. Specifically, the REIT sold Trio Apartments and the Park Plaza office building in California for $124.9 million. Equity One also closed on the acquisition of Aventura Square in the affluent Miami submarket Aventura for $55.5 million in a deal that seemed to fly below the radar screen.