$300 million IPO planned by Excel Trust to buy retail, become a REIT

12/29/2009 | 24/7 Wall St.

Excel Trust has made a securities filing for an IPO to sell up to $300 million worth of common shares. It plans to become a REIT investing in a variety of retail properties, including power centers, free-standing retail and supermarket-anchored neighborhood and community shopping centers. Excel has no operating history but said in its securities documents that it has several acquisitions under negotiation.

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