In discussing its international push during a 4Q conferencecall, Milton Cooper, CEO, said it began in Canada in 2001 and wasquickly followed by its entry into Mexico in 2002. "With thesuccess we've had in Mexico, we want to parlay that into otherLatin American countries," Cooper said, "and we selected Chile, avery stabile country with good, strong economics similar toMexico.

"We're looking at Peru, Brazil and Costa Rica," he added. "Thisis preliminary exploration. We're pursuing expansion in LatinAmerica in a very measured way."

The Chilean JV will acquire and develop shopping centers inmajor markets throughout the country, beginning with a 50%-interestin four existing properties located in Santiago, the capital. Thefour properties have an acquisition value of $16.2 million andaggregate 153,600 sf, including expansion space. Major tenantsinclude Chile's two leading pharmacies and two leadingsupermarkets.