The company owns 674 shopping centers in the US and 128 inAustralia and New Zealand. Its appetite for US malls began in late2004 with the acquisition of Philadelphia-based Kramont RealtyTrust.
In October 2006, it paid $3.2 billion for Boston-based HeritageProperty Investment Trust. With the New Plan Excel buy, it ownsabout 90 million sf of US retail space, primarily strip mallsspread across 40 states.
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