OAK BROOK, IL-Inland Western Retail Real Estate Trust Inc., based here, is joining with Las Vegas-based Juliet Cos. in a $500-million venture to develop multi-tenant retail properties in the West. The company is looking to build retail centers mostly in Las Vegas, but also in Arizona, California, Utah, Oregon and Washington.

The Inland REIT officials say Juliet will contribute 10% of the $125 million in equity for the venture, and the REIT will pay the other 90%. The REIT will receive fees including property management, development and leasing fees, as well as a promoted interest in each project. The companies have a 36-month commitment.

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