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Chelsea Property Group purchases 31 shopping centers

Roseland, N.J. – Locally based Chelsea Property Group Inc. recently acquired 31 retail properties from Cary, N.C.-based Konover Property Trust Inc. for $180 million.

Post-closing, Chelsea's portfolio – including joint venture properties – comprises 55 outlet centers and three community shopping centers located in 28 states and Japan. These holdings contain approximately 12.5 million sq. ft. of gross leasable area (GLA) and nearly 2,900 stores.

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