Wood River Plaza, located at 1501 Vaughan Rd. in Wood River, isa 147,470-sf shopping center anchored by Wal-Mart. The purchaser ofthe property is Woodriver Partners, LLC. Malan's proceeds are to beused to pay down debt.
Wood River is part of the St. Louis, MO metropolitan area. It islocated across the Mississippi River from St. Louis.
The Bingham Farms, MI-based REIT completed the redemption of itsconvertible subordinated debentures June 1. The final aggregateprincipal balance of its 9.5% convertible subordinated debenturesdue July 15 was $7.1 million. The convertible subordinateddebentures were issued as part of the company's initial publicoffering in 1994.
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