REIT acquires Harvest Junction in Longmont

LONGMONT — A Michigan-based real estate investment trust is acquiring the Harvest Junction North and Harvest Junction South shopping centers in Longmont for $69.2 million.

Ramco-Gershenson Properties Trust (NYSE: RPT), a REIT based in Farmington Hills, Michigan, announced that it reached a definitive agreement to buy the shopping centers from Panattoni Development Co. It will pay $35.5 million for Harvest Junction North and $33.7 million for Harvest Junction South.

Ramco-Gershenson will take over property management and leasing duties, said Dawn Hendershot, its director of investor relations and corporate communications.

Buildings at the two centers, on either side of Ken Pratt Boulevard just east…