Westwood Company Overview - Westwood Financial
COMPANY OVERVIEW
Location is Everything
Westwood Financial, LLC owns and operates a portfolio of 72 shopping centers primarily concentrated in California, Arizona, Texas, Colorado, North Carolina, and Georgia. Westwood is a fully integrated and self-managed limited liability company providing property management, leasing, and transaction services for its portfolio of shopping centers. Established in 1970, Westwood restructured its operating model in 2016, consolidating its management company, 76 retail properties, 280 limited partnerships and over 500 limited partners to form a single ownership platform - Westwood Financial, LLC. Since 1989 Westwood Financial has completed over 400 acquisitions, dispositions and debt transactions with an aggregate value of over $4B. The company is headquartered in Los Angeles with regional offices in Dallas, Atlanta and Scottsdale. For more information please visit .
Management Mark Bratt Matt Lougee David Malayil Juyuan Wei Doug Howell Dana Rainford
Board of Directors Howard Banchik Steven Fogel Mark Bratt Martin Caverly Arik Prawer Chris Lee
KEY PERSONNEL
30 years (Formerly CBRE; SITE)
CEO
12 years (Formerly SITE)
EVP, Finance
15 years (Formerly Macerich)
EVP, Leasing
12 years (Formerly Irvine Co.)
VP, SP&A
25 years (10 at WFC)
VP, Property Mgmt
13 years (Formerly Citi)
Head of HR
Founder Founder Westwood Financial 2120 Partners Zillow CEL & Associates
Co-Chairman Co-Chairman
Director Director Director Director
PORTFOLIO OVERVIEW - 3Q19
Properties (Owned) Properties (Managed) Tenant Count SF Managed (mil) Occupancy Rent PSF Grocer Sales PSF Population (3 mile) HH Income (3 mile) Fund Leverage Wtd. Avg. Debt Rate Wtd. Avg. Debt Duration (Yrs)
72 39 1,530 9.6 93.6% $19.07 $556 102,000 $97,000 50% 4.2% 5.8 yrs
Dallas Phoenix Atlanta Los Angeles Chicago
TOP MARKETS BY ABR
Centers
SF (000's)
14
809
9
755
5
469
5
321
7
400
% of ABR 17.5% 14.6% 10.0% 9.1% 7.5%
Kroger Albertsons Publix Sprouts Hy-Vee
TOP TENANTS BY ABR
Stores
SF (000's)
14
643
10
443
5
267
4
128
2
130
% of ABR 6.0% 5.1% 3.2% 2.0% 1.3%
Matt Lougee Executive Vice President, Finance & Accounting mlougee@ 323.986.4247
David Malayil Executive Vice President, Leasing dmalayil@ 213.418.9356
Eric Shulman Vice President, Transactions eshulman@ 323.986.4264
Doug Howell Vice President, Property Management dhowell@ 972.284.0935
Adam Chrisakis Senior Investor Relations Associate achrisakis@ 310.820.5443
Tara Anderson Borysiak Regional Leasing Director - GA, FL, NC, SC tborysiak@ 404.904.9058
Nick Page Regional Leasing Director - AZ, CA, CO, NM, UT, WA npage@ 323.986.4305
Mark Wohlstadter Regional Leasing Director - KS, NE, NY, TX, WI mwohlstadter@ 972.284.0925
11440 San Vicente Blvd, 2nd Floor | Los Angeles, CA 90049 | 310.820.5443 |
COMPANY OVERVIEW
Target Sector (1) Target Sector (2) Deal Size Property Size Unlevered IRR Target Markets
ACQUISITION CRITERIA
Grocery-Anchored, Neighborhood, Community In-Fill, Unanchored Strip Centers $5 Million - $75 Million 5,000 SF - 200,000 SF 6.50% - 9.00%
California, Pacific Northwest, Texas Southeast US, Colorado
PORTFOLIO MAP
WA
CA
CO
AZ TX
Focus States/Markets Westwood Office
IL NC
GA FL
Location is Everything
22001198 22001133 22000099
MERCHANDISING COMPOSITION TREND
Experiences & Services
Products
77% 23%
77% 23%
70% 30%
MERCHANDISING COMPOSITION BY SQUARE FEET
Beauty & Health 10%
General Serv ices
14%
Grocery 45%
Specialty 15%
Food & Bev 16%
Specialty includes: pet stores, home furnishing, office, apparel, etc.
11440 San Vicente Blvd, 2nd Floor | Los Angeles, CA 90049 | 310.820.5443 |
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