DOW JONES NEWSWIRES

Saul Centers Inc. (NYSE:BFS) (BFS) bought three shopping centers for a total price of $ 60.6 million, including the assumption of a $10.4 million, 5.8% mortgage loan maturing February 2024 on one of the properties.

The Bethesda, Md., real estate investment trust acquired the 89,000 square foot Great Falls Center in Great Falls, Va., a 115,000 square foot property currently leased by BJ's Wholesale Club Inc. (NYSE:BJ) (BJ) in Alexandria, Va., and the 22,000 square foot Marketplace at Sea Colony in Bethany Beach, Del.

After the deal closed, Saul closed on a $6.53 million increase to the assumed mortgage. The company also closed a $12.8 million, 15-year mortgage loan secured by BJ's.

Saul funded the balance of the purchase with net proceeds from its recent Series B preferred stock offering.

-Melissa Korn; 201-938-5400; AskNewswires@dowjones.com

    (END) Dow Jones Newswires   04-10-08 1700   Copyright (c) 2008 Dow Jones & Company, Inc.