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REIT Eyes Acquisitions Before End of 2004

SOUTHFIELD, MI-Ramco-Gershenson Properties Trust reports a boost in revenues and income in the second quarter while working on acquisitions in the second half, as well as continuing development and redevelopment projects.

By Dan Heaton | Updated on July 27, 2004

SOUTHFIELD, MI-Ramco-Gershenson Properties Trust has started its second development project of the year and three new redevelopments in the second quarter. The REIT also reports it has a number of acquisitions in the final stages of due diligence as it enters the second half of the year.

“We are optimistic about the balance of 2004 as we bring additional acquisitions and developments on-line and continue our redevelopment program to maximize the value of existing assets,” says Dennis Gershenson, president and chief executive officer in a review of the company’s performance at the close of the second quarter.

Among the highlights of the last quarter, Gershenson says, are:

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