The deal increases the total shopping center portfolio of the locally based REIT to 153 properties. These acquisitions were financed by a combination of borrowings under the company's existing credit facility and assumption of existing debt.

The properties acquired include Warminster Towne Center a 319,826-sf center located in Warminster, PA. The center is 97% leased and anchored by Shop Rite, Ross Dress for Less, Petsmart and Office Max and includes a separately owned Kohl's; Apple Glen Crossing, a 452,550-sf center located in Fort Wayne, IN. The center is 96% leased and anchored by Best Buy, Dick's Sporting Goods and includes a separately owned Wal-Mart Supercenter and Kohl's; Montgomery Commons, a 299,050-sf center located in Montgomery, AL. The center is 99% leased and anchored by Marshalls, Michael's and includes a separately owned Wal-Mart Supercenter; Spradlin Farm, a 442,082-sf center located in Christiansburg, VA. The property, which is 99% leased, is anchored by TJ Maxx, Barnes & Noble, Michael's and Goody's, and includes a separately owned Home Depot and Target.

Thomas C. Prendergast, chairman, president and CEO of the Trust says, "We continue to selectively acquire well-anchored shopping centers within our core markets where we can achieve economies of scale. These centers were appealing to us as they have strong demographics and are well located in 'in-fill' markets with high barriers to entry with a strong diverse tenant base."