Ramco-Gershenson Properties Announces Pricing of 5.5M Share Offering at $12.10

Ramco-Gershenson Properties Trust

announced today the pricing of its underwritten public offering of 5,500,000 newly issued common shares of beneficial interest at $12.10 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 825,000 common shares of beneficial interest. Subject to customary conditions, the offering is expected to close on May 22, 2012. Ramco-Gershenson expects to receive net proceeds from this offering of approximately $63.6 million, or approximately $73.2 million if the underwriters exercise their option to purchase additional shares in full. The Company intends to use the net proceeds to reduce outstanding borrowings under its revolving credit facility and to fund a portion of the consideration for the acquisition of four shopping centers located in Colorado, Missouri and Wisconsin, which were recently announced, as well as for general corporate purposes. The offering is not conditioned on the completion of the acquisitions.