Samuels & Associates and Edens & Avant today announced plans to buy 40 of 60 shopping centers owned by Farmington, Conn.-based Konover & Associates. Most of the centers are in New England, New York,, Pennsylvania and Maryland.
Representatives of a joint venture between Columbia, S.C.-based Edens & Avant and Boston-based Samuels & Associates signed a letter of intent to buy the centers, which comprise more than 4 million sq. ft. ofspace.
Konover recently turned its focus away from its shopping center portfolio and toward itsbusiness and development pipeline, which includes more than 30 potential projects, Edens & Avant noted.
Edens & Avant owns or manages more than 250 retail centers in 19 states and is among the largest shopping center companies on the East Coast. Samuels & Associates is a leasing andcompany with more than 15 projects under development. Its core markets are New England and the Midwest.
-- Staff and wire reports