Glimcher Pays $105M For Luxury Texas Shopping Center

Law360, New York (January 8, 2013, 4:31 PM EST) -- Glimcher Realty Trust has scooped up University Park Village, a luxury open-air Texas shopping center, for $105 million from a real estate management firm representing a Hawaiian pension fund, the real estate investment trust announced Monday.

To buy the property from Heitman Capital Management LLC, which was managing the property for the State of Hawaii Employees' Retirement System pension fund, Glimcher plans on using a $60 million short-term loan that is set to mature in April 2013 and additional funds from an existing credit facility, it...
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