MIAMI—Edens Investment Trust has sealed the $736 million acquisition deal with AmREIT. Edens, which develops, owns and operates community-building centers in primary markets across the US, first announced the acquisition last November.

“This acquisition furthers our strategy of owning and operating a high quality, diversified portfolio of leading urban retail centers with long term value creation potential,” says Terry Brown, chairman and CEO of Edens. “We look forward to embracing the AmREIT team, retailers and communities.”

The acquisition price is a nearly 40% premium over AmREIT's closing stock price on July 9, 2014. That was the last trading day before the disclosure of the unsolicited offer from Regency Centers.

“I am enormously proud of the substantial value the AmREIT team has created for our shareholders,” says H. Kerr Taylor, chairman and CEO of AmREIT. “Importantly, this transaction is also a superb outcome for our employees, tenants and partners. I am very confident EDENS will be an excellent steward of AmREIT's unique assets and will continue to invest in and develop the Irreplaceable Corners that are the hallmark of our company.”

AmREIT shareholders will receive $26.55 per share in cash. The transaction was approved at a special meeting of AmREIT stockholders on January 29, 2015. AmREIT stock will no longer trade on the NYSE Stock Market.