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News Breaks
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September 8, 2010
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| 16:33 EDT |  | GRT |
| theflyonthewall.com: | Glimcher Realty Trust to aaquire full ownership of Scottsdale project | | Glimcher Realty Trust announced that it entered into agreements to purchase the land for all three phases of its Scottsdale Quarter development project in Scottsdale, Arizona from affiliates of their existing joint venture partner. The total purchase price is approximately $120M. Upon the closing of the transactions covered by the purchase agreements, the existing joint venture arrangement will be terminated, giving Glimcher full control and ownership over all improvements, in addition to the land. Upon closing, the joint venture partner will be released from all obligations related to the project. :theflyonthewall.com |
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