Ramco Gershenson Properties Trust has reported results for the second quarter, with diluted FFOincreasing 7.7%, or approximately $1.097 million, to $15.3 million, compared with $14.2 million for the six months ended June 30, 1999. Total revenues increased 9.1%, or $3.87 million, to a total of$46.4 million, compared with $42.53 million in 1999.

Dennis Gershenson, president and CEO of Ramco-Gershenson, notes that currently the company has seven redevelopment projects under way at an estimated cost of $14.3 million. Projects commencingin the second quarter include:

Conyers Crossing, Conyers, GA. A lease has been signed for a 55,000-sf Hobby Lobby craft superstore. Hobby Lobby will occupy the space vacated by Upton’s department store and will join Kmart as an anchor at the center. A facade renovation of the center is also planned.

Sunshine Plaza, Tamarac, FL. Ramco-Gershenson has entered into an agreement with Publix Supermarket to build a new 51,000-sf store. Publix’s existing 37,000-sf store will be demolished toaccommodate the new facility.

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