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RPT > SEC Filings for RPT > Form 8-K on 26-Mar-2013All Recent SEC Filings

Show all filings for RAMCO GERSHENSON PROPERTIES TRUST | Request a Trial to NEW EDGAR Online Pro



Completion of Acquisition or Disposition of Assets, Financial S

Item 2.01 Completion of Acquisition or Disposition of Assets

On March 25, 2013, Ramco-Gershenson Properties Trust, Inc. (RGPT) completed the acquisition of its partner's 70% ownership interest in 12 shopping centers owned by CLPF-Ramco GP, LLC and CLPF-Ramco, L.P. for approximately $151.9 million in cash and the assumption of its partner's pro-rata share of debt of approximately $104.9 million. RGPT now owns 100% of the shopping centers, which are located in Florida and Michigan.

The following table details the properties acquired:

Property Name                                     Location                     GLA    Anchor Tenants (1)
Cocoa Commons                                     Cocoa                     90,116    Publix
Cypress Point                                     Clearwater               167,280    Burlington Coat Factory, The
                                                                                      Fresh Market
Marketplace of Delray                             Delray Beach             238,901    Office Depot, Ross Dress for
                                                                                      Less, Winn-Dixie
Mission Bay Plaza                                 Boca Raton               263,721    The Fresh Market, Golfsmith, LA
                                                                                      Fitness Sports Club, OfficeMax,
                                                                                      Toys "R" Us
Treasure Coast Commons                            Jensen Beach              92,979    Barnes & Noble, OfficeMax,
                                                                                      Sports Authority
Village Plaza                                     Lakeland                 146,755    Big Lots
Vista Plaza                                       Jensen Beach             109,761    Bed Bath & Beyond, Michaels,
                                                                                      Total Wine & More
West Broward Shopping Center                      Plantation               152,973    Badcock, DD's Discounts,
                                                                                      Save-A-Lot, US Postal Service

Hunter's Square                                   Farmington Hills         354,323    Bed Bath & Beyond, Buy Buy Baby,
                                                                                      Loehmann's, Marshalls, T.J. Maxx
The Shops at Old Orchard                          West Bloomfield           96,994    Plum Market
Troy Marketplace                                  Troy                     217,754    Airtime Trampoline, Golfsmith,
                                                                                      LA Fitness, Nordstrom Rack,
                                                                                      PetSmart, (REI)
Winchester Center                                 Rochester Hills          314,575    Bed Bath & Beyond, Dick's
                                                                                      Sporting Goods, Marshalls,
                                                                                      Michaels, PetSmart, (Kmart)
Total                                                                    2,246,132

(1)                          Anchor tenants are any tenant greater than or equal to 19,000 square feet. Tenants in
                             parenthesis represent non-company owned
                             gross leasable area ("GLA").

Financial statements required to comply with the rules and regulations of the SEC, including Rule 3-14 of Regulation S-X for the purchase and pro forma financial statements reflecting the effect of this purchase, were filed in a Form 8-K on March 11, 2013. The debt assumed in connection with this transaction was previously reported under item 2.03 of the March 11, 2013 Form 8-K.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1 Press Release dated March 25, 2013.

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