This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Retail Properties Of America, Inc. Announces Year-to-Date Strategic Transactions

Retail Properties of America, Inc. (NYSE: RPAI or the “Company”) today announced that it entered into a purchase agreement to acquire two assets in the New York City market, Pelham Manor Shopping Plaza (“Pelham”) and Fordham Place (“Fordham”), for a gross purchase price of $192.4 million. In addition, the Company completed the dissolution of its joint venture arrangement with RioCan Real Estate Investment Trust (“RioCan”). Under the terms of the dissolution, the Company acquired RioCan's 80% ownership interest in five properties. The Company, in turn, sold its 20% interest in the remaining eight properties to RioCan. Furthermore, on a year-to-date basis, the Company has sold or has entered into agreements to sell $174.4 million of non-strategic or non-core assets. With the announcement of these transactions, the Company has announced year-to-date acquisitions of $292.3 million and year-to-date dispositions of $269.9 million.


Pelham Manor Shopping Plaza, Pelham Manor, New York

Pelham is a 228,000 square foot community center located in Pelham Manor, New York, in a dense, in-fill sub-market approximately 10 miles north of Manhattan and easily accessible to the 400,000 residents within a three-mile radius. Built in 2008, Pelham is currently 98% leased, with an attractive mix of national tenants including BJ’s Wholesale Club, Michaels, PetSmart and Five Below.

Fordham Place, The Bronx, New York

Fordham is a mixed-use, Class A property located in the Bronx, New York, across from Fordham University and the Metro North Station. Fordham is easily accessible to the 1.2 million residents within a three-mile radius and sits in the heart of the retail corridor along Fordham Road, one of New York City’s busiest and most productive commercial areas. Built in 1920 and redeveloped in 2009, Fordham is a 262,000 square foot, LEED Gold certified asset, comprised of 143,000 square feet of Class A office space and 119,000 square feet of retail space. The property is 100% leased and benefits from an impressive mix of nationally recognized retail tenants and government service and not-for-profit office tenants.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs