Mergers & Acquisitions

Jacksonville, Fla. -- Stein Mart is expanding with the opening of seven stores this fall. The new stores are located in Surprise, Ariz.; Katy, Texas; Tucson, Ariz.; and Charlottesville, Va. The McAllen, Texas; Biloxi, Miss.; and San Dimas, Calif., stores are a relocation of another area store to improve sites.

The four new and three relocated stores bring Stein Mart's total store count to 263 at the end of this year.

New York -- Signet Jewelers Ltd. announced that it has signed a definitive agreement to acquire Ultra Stores, Inc. from Crystal Financial LLC. and its other stockholders for approximately $57 million in cash. Ultra operates stores primarily in outlet centers, as well as licensed jewelry departments.
   
Signet will not assume any debt in connection with the acquisition.
 

Melrose, Mass. -- Charter Realty and Development Corp. said it has acquired the 52,000-sq.-ft. Towers Plaza for $8.6 million.

The neighborhood shopping center, located in Melrose, Mass., a suburb of Boston, was originally built in 1965 and later renovated and expanded. It is anchored by Johnnie’s Foodmaster Supermarket and Rite Aid.  

Charter said it anticipates doing a façade renovation as well as upgrades to the common area. The work will commence this fall and continue in the spring.

Las Vegas -- Tatyana Designs opened its 10th Bettie Page store, on Newbury Street in Boston.

“We are confident that our new Boston location will track the success of our other nine company-owned outlets all located in prime 'street' or up-scale mall locations. We are looking at additional East Coast locations as we aggressively pursue our growth strategy," said Tatyana Designs co-CEO Jan Glaser.

New York -- Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.

Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.

Burlington, Mass. -- KeyPoint Partners announced it has been awarded the property management and retail leasing contract for the Woburn Mall in Woburn, Mass.

Real estate equity fund Multi-Employer Property Trust acquired the 276,200-sq.-ft. mall in September 2012. Tenants include TJ Maxx, HomeGoods, Sports Authority, DSW and CVS Pharmacy.

Santa Monica, Calif. -- The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County. 

Kings Plaza is being acquired from a subsidiary of Alexander's for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.