Westwood Financial Corp. Restructures $1.2 Billion in Assets into Single Privately Held Company

  

Legacy Ranch, Frisco, TX

  

 

Joe Dykstra

Los Angeles, CA – Westwood Financial Corp., a leading owner-operator of high quality shopping centers throughout the U.S., has restructured ownership of 77 of its 120 retail center holdings and its management company into a single, $1.2 billion retail real estate company, according to Joe Dykstra, Co-CEO of the firm.

“We’ve supercharged Westwood Financial Corp. by consolidating more than 280 entities covering 77 separately owned assets as well as our management company into a single, internally managed and administered portfolio,” Dykstra explains.

 “We have also massively reduced complexity, and in its place, created a powerhouse firm with a strong balance sheet, tremendous assets, greater diversification for our legacy investors, and a new level of sophistication with a much greater appeal to new investors, tenants, lenders, brokers and to the retail real estate industry as a whole.” 

The new company, Westwood Financial, is now positioned to more easily access capital, appeal to investors with larger appetites, and has dramatically streamlined its operations, according to Co-CEO Randy Banchik.

“Westwood Financial is a forward-looking company, and this was a truly thoughtful and strategic process,” Banchik notes. “After generating exceptional results over the past 46 years, our founders and key executives started planning to evolve this firm as the retail industry has evolved. 

“We worked alongside some of the top financial and legal professionals in the country to create the most appropriate structure, and the entire company helped bring this consolidation to fruition.”

Dykstra adds, “The fact that we were able to close 77 transactions on the same day to create this new structure is a testament to the sophistication and dedication of our founders, our team, and our professional advisors.”

Randy Banchik

“More than 500 investors had to agree to implement this innovative plan,” Banchik says. “These individuals, many of whom have participated in our partnerships for over 30 years, supported us because of the confidence they have in us.”

That confidence, coupled with an appreciation of the strengths and benefits of the new structure in which they are invested, led to overwhelming approval among investors, according to Banchik.

“Our investors recognized that by internalizing the management company, we were fully aligning our interests with theirs, securing and enhancing the future of Westwood Financial,” he added.

New Structure, New Brand, New Strategy

Westwood recently rebranded, launching a new logo, new signage, and a new tagline: “Retail. Evolved.”  A new website is underway and will launch soon.

Established in 1970, Westwood Financial is headquartered in Los Angeles, with regional offices in Dallas, Atlanta, and Scottsdale.  More information is available at www.westfin.com.

For a complete copy of the company’s news release, please contact:

Miki Conant

Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940 / c: (832) 260-4414

mconant@browermillercole.com