purchase and sale agreement florida

Kimco Realty appear that a acquirement and auction acceding has been accomplished with a accessory of Starwood Distressed Opportunity Fund IX, an associate of Starwood Capital Group to advertise the InTown Suites aggregation and accompanying absolute acreage assets for a gross sales amount of $735M, including $617M of absolute debt. InTown Suites is endemic by InTown Hospitality Investors LP, a collective adventure in which Kimco holds a 75% interest. The InTown Suites portfolio is comprised of 138 continued break backdrop with about 18,000 apartment beyond 21 states that are predominantly amid in the Southeast and Southwest, with concentrations in Texas, Georgia and Florida. Kimco expects to complete this transaction in the aboriginal bisected of 2013. If the transaction is completed, Kimco has agreed to advance $147.5M in preexisting guarantees of outstanding debt to be affected by Starwood Distressed Opportunity Fund IX.



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