Watt to sell stake in joint venture
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Los Angeles real estate firm Watt Cos. is expected to announce today that it will sell its ownership stake in a joint venture with Centro Properties Group that owns and operates 700 shopping centers in 38 states.
Australia-based Centro will take over Centro Watt, which was formed in 2003 and controls 155 million square feet of retail space.
Terms have not been disclosed.
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