Weingarten acquired the properties partly through a downREIT structure by issuing operating partnership units that are convertible into the REIT's common shares, according to a press release issued late yesterday afternoon. Debt assumption and cash on the line were part of the deal-making. More information on the transaction will be available in the coming days.

The San Leandro acquisition, Greenhouse Marketplace, rolls 151,400 sf of 95%-leased inline space to the Houston REIT. The grocery anchor, Safeway, and Long's Drugs own their locations while Weingarten gets a tenant roster that includes 99 Cents Only, Factory 2-U and Big Lots at the Lewelling Boulevard and Washington Avenue plaza. The seller could not be identified by publication time.

In the Raleigh area, the REIT bought the 114,400-sf Leesville Shopping Center and 123,700-sf first phase to Harrison Point Center from Bob Hughes & Associates. The fully leased Leesville plaza at the intersection of Leesville Road and Leesville Church Road is anchored by grocer Harris Teeter and Blockbuster. Harrison Point, at the junction of Harrison Avenue and Maynard Road in the Raleigh suburb of Cary, also has Harris Teeter as the anchor along with Staples. The center's second phase will deliver later this year.