Ramco Pays $257M To Acquire Fla., Mich. Shopping Centers

Law360, Miami (March 12, 2013, 6:41 PM EDT) -- Ramco-Gershenson Properties Trust announced Monday that will buy out partner Clarion Partners LLC's 70 percent ownership interest in 12 of 15 Florida and Michigan shopping centers owned by Ramco/Lion Venture LP in a deal valued at $256.8 million.

Clarion Partners — which, along with Ramco-Gershenson, makes up the Ramco/Lion Venture entity — will retain its 70 percent share of the other three shopping centers. Ramco currently owns 30 percent of the portfolio.

Ramco will pay approximately $151.9 million in cash, while assuming Clarion's pro-rata share of...
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