Newkirk, which owns more than 200 properties in 35 states, didnot specify the properties that will be part of the salestransaction in a statement released by the company. Neither Newkirkofficials nor the buyers could not be reached for comment byGlobeSt.com by deadline.

In a statement announcing that it had signed a letter of intentwith the Kimco and Schottenstein, Newkirk says the sale is subjectto a number of conditions, including the buyers' due diligencereview of the properties and the consummation by the buyers oftheir acquisition of certain Albertson's assets.

In a joint statement announcing the formation of a jointventure, Newkirk and Winthrop say both parties have entered into a$300-million repurchase agreement with Column Financial Inc. whichwill leverage up to 75% of the $100 million in assets held in thejoint venture. The partners anticipate a second repurchaseagreement which will enable the joint venture to obtain anadditional $200 million in leverage and said it believes the jointventure will acquire and originate about $600 million in loanobligations secured by real estate assets.