(Ian Ritter, national online editor for GlobeSt.com/RETAIL, supplied additional reportingfor this story.)
BOSTON-Centro Watt, an Australian and US joint venture, hasagreed to buy strip-mall owner Heritage Property Investment Trustfor $3.2 billion including debt. Centro Properties Group, apublicly traded Australian company, and privately held WattCommercial Properties of Los Angeles is paying $36.15 a share, a3.3% premium on Friday's closing share price on the New York StockExchange.
In a statement, Heritage officials note that, including debt,the sale value is about $3.2 billion. Heritage owns 171 shoppingcenters in 30 states and focuses on grocer-anchored shoppingcenters.Heritage's board of directors unanimously approved the dealand has recommended the approval of the transaction by Heritage'sstockholders. A special stockholder meeting will be held tovote.
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