UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 27, 2015 (July 21, 2015)
RAMCO-GERSHENSON PROPERTIES TRUST
(Exact name of registrant as specified in its Charter)
(Exact name of registrant as specified in its Charter)
Maryland | 1-10093 | 13-6908486 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
31500 Northwestern Highway, Suite 300, Farmington Hills, Michigan | 48334 |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code (248) 350-9900
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Completion of acquisition or disposition of assets.
On July 21, 2015, Ramco-Gershenson Properties Trust (the “Registrant”) through its majority-owned partnership subsidiary, Ramco-Gershenson Properties, L.P. ("RGPLP") completed the acquisition of its partner's 80% ownership interest in six shopping centers for approximately $152.9 million, including the assumption of its partner's pro rata share of debt of $48.1 million. The acquisitions were financed through the assumption of the existing mortgage debt with the balance from borrowings on our unsecured revolving credit facility. The assumed debt has interest rates ranging from 2.9% to 5.8% and is due at various maturity dates from January 2017 through January 2023.
The following table details the properties acquired, including their gross leasable area ("GLA"):
Property Name | Location | Total GLA | Anchor Tenants | ||||
Crofton Centre | Crofton, Maryland | 252,230 | Shoppers Food Warehouse, Gold's Gym, Goodwill, Hibachi Grill & Supreme Buffet, Kmart, United Tile and Granite | ||||
Market Plaza | Glen Ellyn, Illinois | 163,054 | Jewel-Osco, Ross Dress for Less, Staples | ||||
Olentangy Plaza | Columbus, Ohio | 253,204 | Marshalls, Eurolife Furniture, Metro Fitness, Micro Center, Columbus Asia Market-Sublease of SuperValu, Tuesday Morning | ||||
Peachtree Hill | Duluth, Georgia | 154,700 | Kroger, LA Fitness | ||||
Rolling Meadows Shopping Center | Rolling Meadows, Illinois | 134,012 | Jewel-Osco, Dollar Tree, Northwest Community Hospital | ||||
The Shops on Lane Avenue | Upper Arlington, Ohio | 169,035 | Whole Foods Market, Bed Bath & Beyond, Pier 1 Imports, Ulta | ||||
1,126,235 | |||||||
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant
The information set forth in Item 2.01 is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits |
(a) | Financial Statements of Businesses Acquired. |
The required financial statements for the acquired centers will be filed in accordance with Rule 3-14 of Regulation S-X under cover of Form 8-K/A as soon as practicable, but in no event later than seventy-one days after the date on which this initial Current Report was required to be filed.
(b) | Unaudited Pro Forma Financial Information |
The required pro forma financial statements for the acquired centers will be filed in accordance with Article 11 of Regulation S-X under cover of Form 8-K/A as soon as practicable, but in no event later than seventy-one days after the date on which this initial Current Report was required to be filed.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RAMCO-GERSHENSON PROPERTIES TRUST | ||
Date: | July 27, 2015 | by:/s/GREGORY R. ANDREWS |
Gregory R. Andrews | ||
Chief Financial Officer and Secretary | ||
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