2012-09-12 14:07:19 -
San Diego, CA -- September 12, 2012 -- Excel Trust, Inc. (NYSE:EXL), a retail
focused real estate investment trust (REIT), announced today that it has entered
into a joint-venture partnership with GEM Realty Capital, Inc. to redevelop the
La Costa Towne Center in Carlsbad, CA.
Gary Sabin, Chairman and CEO stated, "We are pleased to announce this strategic
joint-venture partnership with a firm that shares our investment philosophy.
This structure allows us to diversify our capital and grow our platform while
enhancing our return on shareholder equity regardless of stock market
conditions. Our acquisition pipeline is strong, and we will continue to evaluate
our capital raising options in both the public and private markets."
About Excel Trust
Excel Trust, Inc. is a retail focused REIT that primarily targets community and
grocery anchored neighborhood centers and freestanding retail
properties. Excel Trust has elected to be treated as a REIT, for U.S. federal
income tax purposes. Excel Trust trades publicly on the NYSE under the symbol
"EXL". For more information on Excel Trust, Inc., please visit
About GEM Realty Capital, Inc.
GEM Realty Capital, Inc. (GEM) is an integrated real estate investment company
that invests in private-market real estate assets and publicly traded real
estate securities through two lines of business, GEM Realty Properties and GEM
Realty Securities. GEM is currently investing capital for its fourth
discretionary private real estate fund, GEM Realty Fund IV, L.P.
Forward Looking Statements
This press release may contain statements that are forward-looking, as that term
is defined by the Private Securities Litigation Reform Act of 1995 or by the
Securities and Exchange Commission in its rules, regulations and releases. These
statements include, but are not limited to, discussions related to the Company's
expectations regarding the performance of its business, its liquidity and
capital resources and other non-historical statements. These forward-looking
statements are based on management's beliefs, as well as assumptions made by,
and information currently available to, management. When used in this release,
the words "believe," "anticipate," "estimate,"
"expect," "intend" and similar
expressions are intended to identify forward-looking statements. Although
management believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these expectations will
prove to have been correct. For a list and description of risks and
uncertainties that could cause actual results to differ materially from
expectations, see the reports filed by the Company with the Securities and
Exchange Commission, including the Company's most recent annual report on Form
10-K. The Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE: Excel Trust, Inc.
Matt Romney, SVP, Capital Markets
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Source: Excel Trust, Inc. via Thomson Reuters ONE