NORTHBROOK, Ill., April 5 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced that it completed the sale of three properties on
March 31, 2000 which the Company had acquired through its acquisition of
Mid-America Realty Investments in August 1998. The three centers, Delta Plaza
located in Escanaba, Michigan, Lakewood Mall located in Aberdeen, South Dakota
and Thunderbird Mall located in Virginia, Minnesota, were all enclosed malls
located in smaller markets which were non-core to the Company's grocery-anchor
community shopping center focus. The centers were sold for an aggregate sales
price of approximately $31 million. Proceeds from the sale were used to
reduce the outstanding balance under the Company's unsecured line of credit.
Bradley Real Estate is the nation's oldest real estate investment trust
and a leading owner and operator of neighborhood and community shopping
centers located in the Midwest region of the United States. The Company owns
96 shopping centers located in 15 states aggregating 15 million square feet of
rentable space.
To receive additional information on Bradley Real Estate free of charge
via fax, dial 1-800-PRO-INFO and enter "BTR" or visit the company's website at
http://www.bradleyrealestate.com
SOURCE Bradley Real Estate, Inc.
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Related links:
http://www.bradleyrealestate.com
CONTACT:
Thomas P. D'Arcy, Chairman and CEO of Bradley
Real Estate, Inc., 847-272-9800; Diane Rohlin of The Financial
Relations Board, 312-640-6748, for Bradley Real Estate, Inc.
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