The reinstatement consolidates the operations of Equity One and CEFUS between August 18, 2000 and September 19, 2001, subject to a 31.
We define FFO consistent with the most recent NAREIT definition as net income before gains (losses) on the sale of real estate, extraordinary items and minority interest, plus real estate depreciation and amortization of capitalized leasing costs, adjusted to add back/subtract any deferred income tax expense/credit attribution to the CEFUS accounting treatment.
The restatement consolidates the operations of Equity One and CEFUS
between August 18, 2000 and September 19, 2001, subject to a 31.
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 and Texas; the continuing financial success of Equity One's current and prospective tenants Equity One's ability to realize economies of scale; in connection with its recent CEFUS
and UIRT transactions; continuing supply constraints in Equity One's current markets; and other risks, which are described in Equity One's filings with the Securities and Exchange Commission.
Factors that could postpone or prevent the closing of the CEFUS
or UIRT acquisitions include the failure to receive the necessary approval from the UIRT shareholders, changes in macro-economic conditions that have a material adverse effect on Equity One, UIRT or CEFUS
; and material decreases in Equity One's stock price.
Corporation, or CEFUS, have taken all necessary actions to approve the previously announced acquisition of CEFUS by Equity One.
After the closing of the CEFUS acquisition, Equity One's size will more than double to approximately $523 million of total assets.
In addition, Equity One is currently serving as the property manager for 11 properties in Florida and as the asset manager for 17 other properties in Florida and Texas, which are mostly supermarket-anchored shopping centers, and which are all owned by CEFUS.
We have successfully integrated the operations of CEFUS
and UIRT, and are running seamlessly as one company with 85 properties, almost 1,900 tenants, five management offices in Florida and two in Texas.