NORTHBROOK, Ill., Sept. 19 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR), has announced that the merger of Bradley Real Estate, Inc. with
and into a wholly-owned subsidiary of Heritage Property Investment Trust, Inc.
was closed on September 18, 2000.  Under the terms of the merger agreement,
holders of Bradley's Common Stock will receive $22.00 per share cash for all
outstanding shares of Bradley.  The holders of Bradley 8.4% Series A
Convertible Preferred Stock will receive approximately $22.458 per share cash
for all outstanding shares in accordance with their terms, based on the
conversion ratio into Common Stock of approximately 1.0208. As of the end of
trading on September 18, 2000, Bradley's Common Stock and Series A Preferred
Stock ceased trading on the New York Stock Exchange.  Bradley also announced
that Heritage's offer to purchase the outstanding common units of limited
partnership ("LP Units") of Bradley Operating Limited Partnership for $22.00
per LP Unit expired at 5:00 p.m. on September 18, 2000.  Heritage has accepted
for payment 1,219,782 LP Units, representing approximately 97.9% of the total
amount of the outstanding LP Units.

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