The company's Auburn Mile project, located in Auburn Hills, MI,is proceeding on schedule with the construction of a Meijer, Targetand JoAnn etc. All three retailers are expected to open thissummer. Additional retailers under construction include Costco,Best Buy and Ethan Allen.

In June this year, RPT held a groundbreaking ceremony commencingconstruction of its newest development project, Crossroads Centre,located in Rossford, OH, a suburb of Toledo. This 650,000-sfshopping center will be anchored by Home Depot, Target and a GiantEagle supermarket. The project will also include a craftsuperstore, home furnishing operation and an office superstore.Complimentary retail uses and freestanding restaurants are alsoplanned. It is expected that the majority of retailers will open inspring 2001.

In April 2000, RPT, as part of its $125 million joint venturewith an affiliate of Investcorp International, acquired East TownPlaza, a 209,000-sf shopping center in Madison, WI. Anchors of thecenter include JoAnn Fabrics, Burlington Coat Factory, Marshall'sand Borders books. The $16.5 million purchase is the thirdacquisition by the joint venture.