Excel Trust Spends $263M To Pick Up 6 Shopping Centers

Law360, New York (October 10, 2012, 7:41 PM EDT) -- Excel Trust Inc. on Tuesday agreed to purchase five retail shopping centers and a 50 percent interest in a sixth in Florida and Virginia from Unicorp National Developments Inc. for $262.8 million, completing the last in a series of Unicorp transactions, according to Excel.

The real estate investment trust plans to pay $195.3 million in cash for the retail complexes, plus $5.5 million in the form of stock in its operating partnership, Excel Trust LP, and $62 million in assumed debt. A spokesman for Excel said...
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