RPT Realty to acquire The Crossings for $104m.

RPT Realty, a publicly traded real estate investment trust, agreed to acquire The Crossings, a shopping center in Boston area, for $104m. "The acquisition of The Crossings continues our trend of identifying off-market opportunities at accretive day one returns that are further enhanced through the sale of parcels to our net lease platform, allowing us to hit our target 8%-10% unlevered IRRs. The Crossings is a perfect complement to our high-quality, individually-curated Boston portfolio, which is now RPT’s second largest market, by annualized base rent, up from no exposure a year ago, reflecting our size advantage as we rapidly reshape our portfolio towards higher growth and more durable cash flow markets, centers, and tenants," Brian Harper, President and CEO.