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Centro Watt Completes Purchase of Kramont

By Roger Vincent

Centro Watt, a retail real estate venture between Santa Monica-based Watt Commercial Properties and Centro Properties Group of Australia, has completed the $1.2-billion acquisition of Kramont Realty Trust.

Kramont’s portfolio of 93 retail centers totaling 12.6 million square feet, mostly in the Northeast, are now held by Centro Watt America, a private real estate investment trust that will be managed by Centro Watt.

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Roger Vincent

Roger Vincent covers commercial real estate for the Los Angeles Times.

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