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Article: Centro Properties Group Announces Definitive Agreement to Acquire Kramont Realty Trust.
- Article from:
- Business Wire
- Article date:
- December 21, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Australian based Centro Properties Group ("Centro") announced yesterday that it has entered into a definitive agreement to acquire Kramont Realty Trust, a US-listed real estate investment trust ("Kramont") for a total cost of approximately $1.25 billion in cash and assumed indebtedness. Kramont specializes in the ownership and management of 93 neighborhood and community shopping centers across 16 East Coast states. Centro is undertaking this opportunity in conjunction with its joint venture partner in the United States, Watt Commercial Properties ("Watt"), which is headquartered in Santa Monica, CA. J. P. Morgan Securities acted as exclusive financial advisor ...