Commercial real estate owner and operator with proven track record reflects on more than five decades of success and shares vision for continued innovation and expansion
LOS ANGELES, February 18, 2025–(BUSINESS WIRE)–Westwood Financial, one of the largest privately held retail real estate investment firms in the nation, is celebrating 55 years of owning and operating best-in-class retail centers across the country. Based in Los Angeles and founded in 1970 by Steven Fogel and Howard Banchik, the firm’s managed portfolio includes more than 125 top-performing grocery-anchored and service-oriented shopping centers, with a large concentration in high-growth Sunbelt markets.
Anticipating the enduring appeal of neighborhood retail, Westwood Financial spent decades strategically cultivating a collection of shopping centers anchored by high-quality tenants. The firm’s footprint is expansive, with properties located in top U.S. markets, including Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Los Angeles, Orlando, Phoenix and Raleigh. Westwood Financial’s investment strategy focuses on delivering stable, income-producing real estate to stakeholders, resulting in over $4 billion in transactions.
In the last year, Westwood Financial executed 83 new leases and 227 renewals for a leasing volume of nearly 1 million square feet. The firm achieved a total of 97.3% leased. Notable acquisitions included Eastway Square, a 130,156-square-foot community shopping center in Charlotte; Glenwood Park, a 48,633 square-foot mixed-use retail property in Atlanta; Trails at 620, a 69,037 square-foot retail center in Austin, Texas; and Paradise Hills, an 83,787 square-foot Ace Hardware-anchored shopping center in Phoenix. Additionally, the firm raised nearly $80 million in debt capital for the continued acquisition of new properties and to allow Westwood Financial to significantly progress on its path to becoming an unsecured borrower.
“Early on, we identified that a key ingredient for success is adapting and responding to market demands, allowing the firm to remain in growth mode throughout decades of retail evolution,” said Steve Fogel, Founder and Co-Chairman of Westwood Financial. “We’ve assembled a strong portfolio of excellent performing grocery-anchored shopping centers strategically located in 15 high-growth states. Looking ahead to the future, we remain committed to strategic acquisitions and leasing initiatives that enhance our portfolio’s value,” said Howard Banchik, Founder and Co-Chairman of Westwood Financial.
Westwood Financial’s strategic adaptability and deep understanding of market dynamics have enabled it to withstand decades of change in the retail industry. It applies its operational expertise to each of its properties, enhancing asset value and investing in capital improvements that strengthen tenant retention and increase rents. In 2024, the firm increased its same-store NOI by 5.6%.
Westwood Financial’s long-standing success is driven by its commitment to portfolio expansion, strong tenant relationships, and sustainable growth. “Our ability to foster strong tenant relationships in growing markets has been a key factor in Westwood Financial’s success,” said Lauren Ball, Chief Operating Officer. “By staying closely connected to our tenants and understanding their needs, we create thriving retail environments that benefit both businesses and communities.”
With offices in Los Angeles, Atlanta, Phoenix, and Dallas, Westwood Financial remains active in its core markets. The company strategically identifies high-potential acquisitions using advanced market analysis tools and employs creative financing solutions to maximize returns.
“What separates a good owner from a great owner is the ability to execute a decisive, strategic business plan that drives expansion, and Westwood Financial’s track record of anticipating the next critical step has propelled our growth in target markets,” said Juyuan Wei, Chief Financial Officer at Westwood Financial. “Our knowledge of each unique market, property, tenant, and consumer has contributed to consistently high investor confidence. As we enter this next chapter, we will continue to innovate and seize opportunities in this flourishing sector.”
In the coming years, Westwood Financial has several strategic focal points. The firm will continue to pursue acquisitions that align with its investment criteria; focus on enhancing the performance of existing assets through tenant improvements, renovations, and leasing initiatives; explore opportunities for expansion into new markets with strong growth potential; and strengthen financial resilience by maintaining a robust balance sheet and leveraging flexible debt structures. It will also continue maximizing profit and growth to ensure investor returns remain strong and seek out new institutional partnerships and creative endeavors that facilitate expansion.
For more information about Westwood Financial, visit its website and follow along on LinkedIn and Instagram.
About Westwood Financial
Westwood Financial owns, manages, and operates over 125 high-quality shopping centers in top U.S. metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. Top-tier grocers and leading service and experiential-based operators primarily anchor the centers. Established in 1970 by Howard Banchik and Steven Fogel, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250218042846/en/
Contacts
Volker Schramm
Director of Marketing
marketing@westfin.com