New Plan Excel Realty Trust Comments on Possible Australian Opportunities
April 14 2005 - 10:13AM
PR Newswire (US)
New Plan Excel Realty Trust Comments on Possible Australian
Opportunities NEW YORK, April 14 /PRNewswire-FirstCall/ -- New Plan
Excel Realty Trust, Inc. (NYSE:NXL) today confirmed that it is
exploring possible opportunities in Australia involving certain of
New Plan's community and neighborhood shopping centers. No
agreement regarding any transaction has been reached and there is
no assurance that any transaction will be consummated. The Company
intends to comment further on or respond to questions regarding a
possible transaction only if and when a definitive agreement is
entered into and an announcement is made. New Plan Excel Realty
Trust, Inc. is one of the nation's largest real estate companies,
focusing on the ownership and management of community and
neighborhood shopping centers. The Company operates as a
self-administered and self-managed REIT, with a national portfolio
of 404 properties, including 26 properties held through joint
ventures, and total assets of approximately $3.8 billion. Its
properties are strategically located across 35 states and include
384 community and neighborhood shopping centers, primarily grocery
or name-brand discount chain anchored, with approximately 56.0
million square feet of gross leasable area, and 20 related retail
real estate assets, with approximately 1.8 million square feet of
gross leasable area. For additional information, please visit
http://www.newplan.com/ Certain statements in this release that are
not historical fact may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results of the Company to differ materially from historical results
or from any results expressed or implied by such forward-looking
statements, including without limitation: national and local
economic, business, real estate and other market conditions; the
competitive environment in which the Company operates; financing
risks; possible future downgrades in our credit ratings; property
ownership / management risks; the level and volatility of interest
rates and changes in capitalization rates with respect to the
acquisition and disposition of properties; financial stability of
tenants; the Company's ability to maintain its status as a REIT for
federal income tax purposes; acquisition, disposition, development
and joint venture risks, including risks that developments and
redevelopments are not completed on time or on budget and
strategies, actions and performance of affiliates that the Company
may not control; potential environmental and other liabilities; and
other factors affecting the real estate industry generally. The
Company refers you to the documents filed by the Company from time
to time with the Securities and Exchange Commission, specifically
the section titled "Business-Risk Factors" in the Company's Annual
Report on Form 10-K for the year ended December 31, 2004, which
discuss these and other factors that could adversely affect the
Company's results. DATASOURCE: New Plan Excel Realty Trust CONTACT:
Stacy Slater, Senior Vice President, Corporate Communications, New
Plan Excel Realty Trust, Inc., +1-212-869-3000, Web site:
http://www.newplan.com/
Copyright
New Plan Excel (NYSE:NXL)
Historical Stock Chart
From Jun 2024 to Jul 2024
New Plan Excel (NYSE:NXL)
Historical Stock Chart
From Jul 2023 to Jul 2024