COLUMBIA, S.C., Sept. 28 /PRNewswire/ -- Edens & Avant, one of the
nation's leading private retail real estate companies, announced today the
closing of an additional $300 million equity subscription agreement between
the Company and its institutional investors. Edens & Avant will use the
proceeds to fund its expanding real estate investment activities in major
urban markets from Boston to Miami.
The State of Michigan Retirement System, institutional investors
advised by JPMorgan Asset Management - Real Estate and the New York State
Teachers' Retirement System, all long-term investors in Edens & Avant,
executed the agreement to increase their positions in the Company on
Wednesday.
"This equity transaction demonstrates the continued support and
confidence our investors place in the Company," commented Jason Tompkins,
Edens & Avant Chief Financial Officer. "We remain committed to maintaining
a conservative, flexible balance sheet while opportunistically pursuing
select real estate investments across our footprint."
Edens & Avant develops, owns and operates neighborhood shopping places
in primary markets throughout the East Coast. Focusing on innovative
development and redevelopment together with key acquisitions in urban
areas, the Company has built a portfolio of more than 170 retail centers in
18 states. Edens & Avant has Regional Headquarters in Boston, Washington,
DC, Atlanta, Miami and Columbia, SC (Corporate Office). For additional
information about the Company and its retail real estate portfolio, please
visit http://www.edensandavant.com.
SOURCE Edens & Avant
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Related links:
http://www.edensandavant.com/
CONTACT:
Julie Culbreath of Edens & Avant,
+1-803-744-2446, or jculbreath@edensandavant.com
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