Chelsea Completes Stock Offering

Chelsea Property Group, Roseland, N.J., has announced the completion of a public offering of 1.2 million shares of common stock at a price of $42.10 per share.Chelsea, a real estate investment trust, said the net proceeds of approximately $49.5 million will be used to repay unsecured bank borrowings association with its purchase of The Crossings Factory Stores. The shopping center REIT can be found online at http://www.cpgi.com.

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