March 11, 2010 (FinancialWire) — Equity One, Inc. (NYSE: EQY), an owner, developer, and operator of shopping centers, has priced its offering of 4.2 million shares of its common stock on March 9, 2010, resulting in roughly $76.1 million of net proceeds to the company.

In addition and concurrently with the closing of the public offering, MGN America, LLC, and Gazit America Inc., two entities affiliated with Equity One’s largest stockholder, Gazit-Globe, Ltd., will purchase directly from the company an aggregate of 600,000 additional shares of common stock resulting in net proceeds to the company of approximately $11.0 million.

Equity One plans to use the net proceeds for the repayment of outstanding mortgage debt and general corporate purposes.

Florida-based Equity One

As of December 31, 2009, Equity One owned or had interests in 182 properties, consisting of 168 shopping centers comprising approximately 19.0 million square feet, three projects in development/redevelopment, six non-retail properties, and five parcels of land. Additionally, Equity One had joint venture interests in twelve shopping centers and one office building totaling approximately 1.9 million square feet.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.