REIT Watch: Granite REIT Pays $21 Million for Distribution Centre

on Aug 28, 2013


**Granite REIT Pays $21 Million for Distribution Centre** Wednesday. August 28th: Granite REIT, a real estate investment trust with a portfolio of properties in North America and Europe, has purchased a distribution centre formerly used by Liz Claiborne, a fashion group now known as Fifth & Pacific Companies.
The property has a gross leasable area of 600,000 sq. ft. and is located at 8741 Jacquemin Drive, West Chester, Ohio. Granite bought the distribution centre through its M/I Development America affiliate, paying $21 million (₤13.58 million).

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Liz Claiborne closed the facility on September 1, 2012, laying off 365 workers. The company had purchased the building in May 2011 for $28.4 million (₤18.37 million).
**Retrocom Acquires Two Walmart Anchored Shopping Centres**
Retrocom REIT, a real estate investment trust with a portfolio of properties across Canada, yesterday announced that it had completed the acquisition of two shopping centres from Walmart Canada and SmartCentres Realty for about C$61.4 million (₤37.7 million).

Together the shopping centres have a gross leasable area of 226,000 sq. ft. The acquisition was funded through a mortgage, the issuance of Class B limited partnership shares, and cash.
The latest deal increased Retrocom’s total asset base to over one billion Canadian dollars, marking a significant milestone in the growth of the real estate investment trust. Retrocom has now nine Walmart shopping centres with a total area of over 760,000 sq. ft. – about 11.5 percent of the company’s leasable area.

**United States**
**Armour Residential REIT Appoints New Board Member and COO**
Armour Residential REIT, a real estate investment trust with a portfolio of hybrid adjustable rate, adjustable rate and fixed rate residential mortgage backed securities (RMBS), has appointed Ms Carolyn Downey, former managing director of RBS Greenwich Capital, as a new independent member of the board of directors. Additionally, the board has appointed Mr Mark Gruber, head of portfolio management, to the post of chief operation officer.

!m[Retrocom Acquires Two Walmart Anchored Shopping Centres](/uploads/story/5155/thumbs/pic1_inline.jpg)
**Phillips Edison-ARC Shopping Center REIT Buys Two Grocery-Anchored Shopping Centres**
Phillips Edison-ARC Shopping Center REIT, a real estate investment trust investing in shopping centres across the U.S., yesterday said that it had acquired two grocery-anchored shopping centres in California and Missouri. The properties have a combined gross leasable area of 186,916 sq. ft. and are fully leased.
Including the latest acquisitions, Phillips Edison portfolio consists of 52 properties in 19 states and is valued at approximately $746 million (₤482 million).
**Granite REIT’s share price was C$35.57 as of 28.08.2013.**
**Retrocom REIT’s share price was C$4.88 as of 28.08.2013.**
**Armour Residential REIT’s share price was $4.14 as of 28.08.2013.**


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