As part of the agreement, Heritage Chairman Thomas Predergasthas replaced Bradley CEO Thomas D'Arcy. Although its name willcease to exist, the remnants of Bradley will have a homecoming ofsorts, given that the Illinois-based REIT was created in the Hub in1961 and remained there until 1996 when D'Arcy decided it madesense to move to the mid-west to be near the bulk of its assets,which were primarily retail.

Heritage initially announced its intentions to acquire Bradleyin May for $1.1 billion. Under terms of the final agreement,holders of Bradley's common stock will receive $22 per share forall outstanding shares of Bradley. The holders of the erstwhileREIT's Series A convertible preferred stock will receiveapproximately $22.45 per share for all outstanding shares. Themerger was financed via $100 million in equity financing fromPrudential Real Estate Investors, while Prudential Mortgage CapitalCo. provided a $235 million mortgage loan. Fleet National Bankadded $425 million via an unsecured credit facility.