-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TzXbvun2iZvptcq58nLD0Hd92lZ+oBUP1UfWszMbFCg9Ac4Tq9sv81NMul7I0HvC i8aNBvbhVPvZHPyjjNv+WA== 0001042810-04-000056.txt : 20040325 0001042810-04-000056.hdr.sgml : 20040325 20040325161541 ACCESSION NUMBER: 0001042810-04-000056 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040324 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040325 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUITY ONE INC CENTRAL INDEX KEY: 0001042810 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 650563410 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13499 FILM NUMBER: 04689968 BUSINESS ADDRESS: STREET 1: 1696 N E MIAMI GARDENS DR SUITE 200 CITY: NORTH MIAMI BEACH STATE: FL ZIP: 33179 MAIL ADDRESS: STREET 1: 1696 N E MIAMI GARDENS DR SUITE 200 CITY: NORTH MIAMI BEACH STATE: FL ZIP: 33179 8-K 1 form8k_pr.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 24, 2004 EQUITY ONE, INC. (Exact name of registrant as specified in its charter) FLORIDA (State of other jurisdiction of incorporation) 001-13499 52-1794271 (Commission File Number) (I.R.S. Employer Identification No.) 1696 N.E. MIAMI GARDENS DRIVE, NORTH MIAMI BEACH, FLORIDA 33179 (Address of principal executive offices) Registrant's telephone number, including area code: (305) 947-1664 NOT APPLICABLE (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS On February 24, 2004, Equity One, Inc., a Maryland corporation (the "Company"), acquired Creekside Plaza in Arlington, Texas and The Village Center in Southlake, Texas for aggregate consideration of approximately $31.5 million. Creekside Plaza is a 101,016 square foot shopping center anchored by a 60,932 square foot Kroger Signature supermarket and contains a Hollywood Video store and Washington Mutual. The center also includes 28,384 square feet of local tenant space and is currently 100% leased. The Village Center is a 118,092 square foot shopping center anchored by a 60,932 Kroger Signature supermarket. The balance of the center consists of 57,160 square feet of local space and is currently 96% leased. The press release issued by Equity One, Inc. announcing these acquisitions is attached hereto as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial Statements of Business Acquired. Not applicable (b) Pro Forma Financial Information. Not applicable (c) Exhibits. 99.1 Press Release of the Company dated March 24, 2004. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Equity One has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 25, 2004 EQUITY ONE, INC. By: /s/ Chief Executive Officer --------------------------------- Chaim Katzman Chief Executive Officer EQUITY ONE, INC. INDEX TO EXHIBITS ----------------- Exhibit Number Description of Exhibit - -------------- ---------------------- 99.1 Press Release of Equity One, Inc. dated March 24, 2004. EX-99 3 exh991.txt EXHIBIT 99.1 Exhibit 99.1 ------------ Equity One, Inc. For additional information at the Company: 1696 NE Miami Gardens Drive Howard Sipzner, EVP & CFO North Miami Beach, FL 33179 Media Contact: 305-947-1664 David Schull 305-446-2700 FOR IMMEDIATE RELEASE: - --------------------- Equity One, Inc. Completes Acquisition of Two Kroger Anchored Centers --------------------------------------------------------------------- NORTH MIAMI BEACH, FL, March 24, 2004 - Equity One, Inc. (NYSE:EQY), an owner, developer and operator of community and neighborhood shopping centers located predominantly in high growth markets in the southern United States, announced today that it has completed the separate acquisitions of Creekside Plaza Shopping Center in Arlington, Texas and The Village Center in Southlake, Texas for total consideration of $31.5 million. Both properties are unencumbered, and Equity One funded the purchase costs from its unsecured line of credit. Creekside Plaza is a 101,016 square foot shopping center anchored by a 60,932 square foot Kroger Signature supermarket, Hollywood Video and Washington Mutual. The center includes 28,384 square feet of local tenant space and is currently 100% leased. The first phase of Creekside Plaza was completed in 1997 with the second phase completed the following year. The center is situated on 18.9 acres at the intersection of State Highway 360 and Green Oaks Boulevard in Arlington, Texas. In connection with the purchase, Equity One acquired a 2.5 acre pad site and additional unimproved land for future development of approximately 5,000 square feet of additional retail space. The population within a one-mile radius has increased over 75% since 1990 and is expected to increase an additional 19.5% between 2002 and 2007. The Village is a 118,092 square foot shopping center anchored by a 60,932 square foot Kroger Signature supermarket. The balance of the center consists of 57,160 square feet of local space and is currently 96% leased. The center was completed in 1996 on a 13.1-acre site and is located at the northeast corner of Southlake Boulevard and Village Center Drive just west of State Highway 114 in Southlake, Texas, approximately 15 miles northwest of Dallas and 10 miles northeast of Fort Worth. Southlake is considered one of the most affluent cities within the Dallas-Fort Worth metroplex, and has experienced 10% growth in population since 2000 and 238% over the most recent 12-year period. "These two shopping centers are anchored by the area's leading grocer in densely populated, infill locations with significant barriers to entry," stated Chaim Katzman, Chairman and Chief Executive Officer of Equity One. "They represent prime examples of the type of product we will continue to seek to acquire to expand our substantial market position in Texas and throughout the southern United States." About Equity One, Inc. - ---------------------- Equity One is a real estate investment trust that principally acquires, renovates, develops and manages neighborhood and community shopping centers anchored by national and regional supermarket chains and other necessity-oriented retailers such as drug stores or discount retail stores. Our 20 million square foot portfolio consists of 187 properties located primarily in metropolitan areas of the southern United States, encompassing 126 supermarket-anchored shopping centers, 10 drug store-anchored shopping centers, 44 other retail-anchored shopping centers, two commercial properties and five retail developments, as well as non-controlling interests in two unconsolidated joint ventures. For additional information, please visit our web site at www.equityone.net. Forward Looking Statements - -------------------------- Certain matters discussed by Equity One in this press release constitute forward-looking statements within the meaning of the federal securities laws. Although Equity One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Factors that could cause actual results to differ materially from current expectations include changes in macro-economic conditions and the demand for retail space in Florida, Texas, Georgia and the other states in which Equity One owns properties; the continuing financial success of Equity One's current and prospective tenants; continuing supply constraints in its geographic markets; the availability of properties for acquisition; the success of its efforts to lease up vacant properties; the effects of natural and other disasters; the ability of Equity One successfully to integrate the operations and systems of acquired companies and properties; and other risks, which are described in Equity One's filings with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----