Equity One Inc., a real estate investment trust based in North Miami Beach, Fla., has announced that its wholly owned subsidiary, UIRT Ltd., has settled a lawsuit brought by Settler's Way & Highway Six Inc.UIRT agreed to pay the plaintiff $1.9 million, which will be recognized as a nonrecurring charge in its financial results for the fourth quarter, the shopping center REIT said. In November, a Texas jury entered a judgment of approximately $15.9 million against the defendants, including compensatory and exemplary damages, Equity One said. The settlement agreement includes mutual releases regarding all matters arising from the suit. The REIT can be found online at http://www.equityone.com.
Processing Content
