Centro Watt Completes Purchase of Kramont

Centro Watt, a retail real estate venture between Santa Monica-based Watt Commercial Properties and Centro Properties Group of Australia, has completed the $1.2-billion acquisition of Kramont Realty Trust.

Kramont’s portfolio of 93 retail centers totaling 12.6 million square feet, mostly in the Northeast, are now held by Centro Watt America, a private real estate investment trust that will be managed by Centro Watt.