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FORT WORTH-RioCan, a real estate investment trust based inToronto, is expecting to purchase an 80% stake in the retaildivision of Montgomery Plaza situated on West Seventh Street inFort Worth. According to the Fort Worth Star-Telegram report, theCanadian company will acquire the interest at the old MontgomeryWard site from Kimco.
RioCan will pay $44.4 million for its stake and Kimco will holdthe remaining stake worth $11.1 million. The property will bemanaged by Kimco. For the full story, go to Dallas Business Journal .
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