Pine Tree, a national owner and operator of open-air shopping centers, announced that it has acquired sponsor interest in a 10-property portfolio recently appraised at $644 million and totaling 3.5 million square feet. The interest was acquired from SITE Centers (NYSE: SITC) in partnership with a large international investor. The transaction brings Pine Tree's total acquisition activity over the past 12 months to more than $1 billion and grows the company's assets under management to more than $4 billion.

Spanning nine states and located in top 50 U.S. markets, the primarily grocery-anchored portfolio is comprised of a mix of national and regional retailers, including: Target, Sam's Club, Publix, ALDI, Sprouts Farmers Market, Food Lion, The Fresh Market, Lowe's, DICK'S Sporting Goods, Best Buy, Marshalls, HomeGoods and Ross Dress for Less, among others.

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