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
Compact LifeSpan Elliptical Trainer Earns Best New Elliptical Award
SALT LAKE CITY, Nov. 24 /PRNewswire/ -- New compact LifeSpan Elliptical Trainers, made by PCE Health and Fitness (www.lifespanfitness.com), were highly rated in annual fitness equipment reviews of best treadmills and elliptical trainers for 2010. The LifeSpan EL3000i ellipti...
Saskatchewan Workers’ Compensation Board Selects FINEOS
DUBLIN -
FINEOS
Corporation, a global provider of innovative enterprise software
BMO Financial Group Announces Agreement to Acquire the Diners Club North American Franchise From Citigroup
Gives BMO exclusive rights to issue Diners Club cards in North America;
clients will benefit from worldwide acceptance and ability to access the
industry's top purchasing card and T&E card programs under one provider
- Strategic acquisition to drive growth within the B...
Warner Music Group Corp. Reports Results for the Fiscal Fourth Quarter and Full Year Ended September 30, 2009
NEW YORK, NY -- 11/24/09 --
Warner Music Group Corp. (NYSE: WMG)
-- Total revenue of $861 million for the fourth quarter of 2009 increased
1% from the prior-year quarter, or 5% on a constant-currency basis. Full-
year ..
Aditi Technologies Launches iPhone Framework for Retail Websites
BANGALORE, India, November 24 /PRNewswire/ --
- Offering "Reduced Time-To-Market" With "Reduced Cost" and "Rich
Shopping Experience"
Aditi Technologies, a leading provider of software product and
appli...
Smiths Detection Wins $27M Canadian Contract for Advanced Checkpoint X-ray Systems
LAVAL, Canada -
Smiths
Detection today announces a $27 million (CAD) order from the
American Woodmark Corporation Announces Second Quarter Results
WINCHESTER, Va., Nov. 24 -- American Woodmark Corporation (Nasdaq: AMWD) today announced results for the second quarter of its fiscal year 2010, that ended on October 31, 2009.
Net sales declined 23% compared with the second quarter of the prior fisca...
|
|
|
|
|
|
|
|
|
