DRA Advisors LLC announces the sale of its remaining interest in the PL Retail Portfolio.NEW YORK New York, state, United States
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LLC - Logical Link Control has announced that it has completed the sale of an 85% interest in PL Retail LLC to Kimco Realty Corporation Kimco Realty Corporation, (NYSE: KIM), is a Real Estate Investment Trust, founded in 1960, by Martin Kimmell and Milton Cooper, with "Kimco" being a contraction of their names, Kimmell and Cooper. for a price of $825 million. PL Retail LLC is the joint venture entity that owns the remaining 21 shopping centers acquired in the privatization privatization: see nationalization.
Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of Price Legacy Corporation in December, 2004. Commenting on the sale, David Luski, Chief Executive Officer of DRA stated: "While we are pleased with both the operating performance of the underlying assets of PL Retail and our relationship with Kimco, the sale is consistent with the anticipated ownership period of these properties and the strategy of our managed Funds. Moreover, at a time in which relatively few properties are trading, our ability to return investor capital from this sale will undoubtedly provide more investment flexibility for many of our investors. Looking forward, we will continue to look to acquire quality shopping centers with value-added upside and the opportunity to expand our relationship with Kimco."
About DRA Advisors LLC
DRA Advisors LLC is a New York-based registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations and insurance companies. Founded in 1986, the firm currently manages $9.6 billion in assets. Additional information about DRA can be found on its website at http://www.draadvisors.com.