FORT WORTH-RioCan, a real estate investment trust based in Toronto, is expecting to purchase an 80% stake in the retail division of Montgomery Plaza situated on West Seventh Street in Fort Worth. According to the Fort Worth Star-Telegram report, the Canadian company will acquire the interest at the old Montgomery Ward site from Kimco.
RioCan will pay $44.4 million for its stake and Kimco will hold the remaining stake worth $11.1 million. The property will be managed by Kimco. For the full story, go to Dallas Business Journal .
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