DRA Advisors LLC announces the sale of its remaining interest in the PL Retail Portfolio
|
| Posted
:
Thu, 05 Nov 2009 00:16:57 GMT |
| Author
:
DRA Advisors LLC
|
| Category
:
Press Release |
| News Alerts by
Email ( click
here ) |
|
|
|
|
NEW YORK - (Business Wire) DRA Advisors LLC has announced that it has completed the sale of an 85% interest in PL Retail LLC to Kimco Realty Corporation for a price of $825 million. PL Retail LLC is the joint venture entity that owns the remaining 21 shopping centers acquired in the privatization of Price Legacy Corporation in December, 2004. Commenting on the sale, David Luski, Chief Executive Officer of DRA stated: "While we are pleased with both the operating performance of the underlying assets of PL Retail and our relationship with Kimco, the sale is consistent with the anticipated ownership period of these properties and the strategy of our managed Funds. Moreover, at a time in which relatively few properties are trading, our ability to return investor capital from this sale will undoubtedly provide more investment flexibility for many of our investors. Looking forward, we will continue to look to acquire quality shopping centers with value-added upside and the opportunity to expand our relationship with Kimco." About DRA Advisors LLC DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations and insurance companies. Founded in 1986, the firm currently manages $9.6 billion in assets. Additional information about DRA can be found on its website at http://www.draadvisors.com.
DRA Advisors LLC
Paul McEvoy, Jr., 212-652-7462
|
Copyright © 2008
Business Wire. All rights reserved.
|
|
|
|
|
Related
News
Cost Plus World Market Kicks off the Holiday Shopping Season with Black Friday and Black Saturday
OAKLAND, Calif. -
Cost Plus World Market (www.worldmarket.com)
celebrates Black Friday
New Hologic SecurView(R) DX Diagnostic Workstation Software Streamlines Workflow, Improves Radiologist Productivity
BEDFORD, Mass., Nov. 25 -- Hologic, Inc. (Hologic or the Company) (Nasdaq: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, is using ...
Bancroft Fund Ltd. Announces NAV Error
MORRISTOWN, NJ -- 11/25/09 --
Bancroft Fund Ltd. (NYSE Amex: BCV)
announced today that an NAV (Net Asset Value) error occurred on November
24, 2009. The NAV as reported was $17.14. The NAV should have been $16.88.
The $0.256 dividend that..
P2P Announces Name Change to Salares Lithium Inc. and Symbol Change to "LIT"
VANCOUVER, BRITISH COLUMBIA -- 11/25/09 --
P2P Health Systems Inc. (NEX: PTP.H) (the "Company") is pleased to report that the TSX Venture Exchange has accepted for filing the Company's Change of Business, Private Placement, Consolidation, Name Chan..
FDA's Woodcock Discusses Pain Management and Drug Safety in Nov. 26, 2009 Issue of The New England Journal of Medicine
SILVER SPRING, Md., Nov. 25 /PRNewswire-USNewswire/ -- An article by Janet Woodcock, M.D., director of the FDA's Center for Drug Evaluation and Research, titled "A Difficult Balance - Pain Management, Drug Safety, and the FDA," appears in the Nov. 26, 2009 issue of The New England...
Frost & Sullivan Recognises Best-in-Class Innovators
JOHANNESBURG, Nov. 25 /PRNewswire/ -- Twenty-two top international and local companies were honoured at Frost & Sullivan's second annual African Excellence Awards Banquet held last night at the Hilton Sandton Hotel. The awards were made to companies showcasing leading ideas and inn...
USA Bank Reports Operating Results for the Quarter Ended
PORT CHESTER, NY -- 11/25/09 --
USA Bank (OTCBB: USBK) reported a net loss
of $4.1 million ($0.71 per share) during the three months ended September
30, 2009, as compared to a net loss of $118,000 ($0.02 per share) for the
three months ended Septem..
|
|
|
|
|
|
|
|
|
