New Plan Excel Realty Trust
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New Plan Excel Realty is a real estate investment trust that focuses on the development, ownership, and management of community and neighborhood shopping centers, or strip malls. New Plan is self-administered and self-managed. It has over 465 properties in 38 states. Total worth is $38 billion. They were structured as a downreit.
New Plan's New York Stock Exchange ticker symbol was NXL. They are headquartered in New York, New York. On April 20, 2007 the Australian-based company Centro Property Group acquired New Plan and merged it with an affiliate. Centro specialized in the ownership, management and development of retail shopping centers.
Sample properties include Westgate in Cleveland Ohio, Point Orlando in Orlando Florida, Starlite Plaza in Sylvania Ohio, The Shoppes in East Chase Alabama, The Shoppes in Cinnaminson New Jersey, Palm Plaza in Aransas Texas, El Camino, Stevens Park Village, Jester Village, Haymarket Mall in Des Moines Iowa, Arbor Faire, and Burbank Plaza in Burbank California.
New Plan Excel Realty Trust was a good investment in the retail economy of the United States, but the Australians in Centro seized the opportunity to profit from it.
Next: Prime Group Realty Trust -- commercial real estate in and around Chicago Illinois.
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