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REIT Makes Deals with Web-based Firms

Three newly forged alliances ensure New Plan's tech commitment.

By Art Gering | Updated on July 28, 2000

NEW YORK CITY—Real estate and high-tech continue to embrace each other as New Plan Excel Realty Trust Inc., based here, unveils three technology initiatives. The shopping center and apartment REIT is reportedly one of six US retail property owners that have agreed to place their retail listings on Storetrax.com. The website helps facilitate leasing efforts between retailers and property owners by providing site plans, space availability and demographics information on-line. In another move, New Plan has received an equity position in Eversave.com in exchange for giving the web-based direct marketer access to the REIT’s property portfolio. And, as its final move, New Plan Excel has engaged AAT Communications as the exclusive administrator and manager of activity relating to the placement of communications equipment and systems upon or within assets controlled by the REIT.

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