As part of the agreement, Heritage Chairman Thomas Predergast has replaced Bradley CEO Thomas D'Arcy. Although its name will cease to exist, the remnants of Bradley will have a homecoming of sorts, given that the Illinois-based REIT was created in the Hub in 1961 and remained there until 1996 when D'Arcy decided it made sense to move to the mid-west to be near the bulk of its assets, which were primarily retail.

Heritage initially announced its intentions to acquire Bradley in May for $1.1 billion. Under terms of the final agreement, holders of Bradley's common stock will receive $22 per share for all outstanding shares of Bradley. The holders of the erstwhile REIT's Series A convertible preferred stock will receive approximately $22.45 per share for all outstanding shares. The merger was financed via $100 million in equity financing from Prudential Real Estate Investors, while Prudential Mortgage Capital Co. provided a $235 million mortgage loan. Fleet National Bank added $425 million via an unsecured credit facility.