NORTON SHORES, MICH. — Norton Shores-based Horizon Group Properties has completed the disposition of minority interests in the entities that own five of its outlet centers to Bright Horizons of South Florida. The buyer acquired a 22.5 percent interest in the entities that own outlet centers in Burlington, Wash., Fremont, Ind., Gettysburg, Pa., and Oshkosh, Wis., and a 19.6 percent preferred interest and a 17.8 percent common interest in a center in El Paso, Texas. Bright Horizons has agreed to acquire an additional 26.5 percent interest in the properties in Burlington, Fremont, Gettysburg and Oshkosh, and an additional 23.6 percent preferred interest and an additional 21.8 percent common interest in the El Paso property on or before March 31, 2010. Bright Horizons is an entity controlled by Somerset Outlet Center.
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