Tedeschi Realty announced today that it closed on the first phase of the sale of 25 shopping centers to Dividend Capital Total Realty Trust, a private Real Estate Investment Trust based in Denver, Colorado.  Today’s sale included 22 locations.  The final 3 centers are slated to close in a few weeks.  One center in Middleboro was removed from the portfolio and will be retained by the family at this time.

“This is a great opportunity for the extended Tedeschi Family.  The proceeds are a result of several decades of effort by many members of the family and several joint venture partners,” said Terrence C. Tedeschi, President of the firm. 

Much of the Tedeschi portfolio was developed as part of the family’s earlier supermarket operations.  The family exited the supermarket business in 1986.   The family continues to operate and franchise 200 convenience stores in the Boston Metro market under the brand names Tedeschi Food Shops, L’il Peach and Store 24.  The convenience stores and associated real estate were not included in the sale. 

The Boston office of Jones Lang LaSalle, a world leader in comprehensive real estate investment management marketed the portfolio for the sellers. 

August 1, 2007