Heritage Property Investment Trust, Inc. Comments On Capital Raising Joint Venture Opportunities

Heritage Property Investment Trust, Inc. Comments On Capital
Raising Joint Venture Opportunities 


BOSTON, July 15  /PRNewswire-FirstCall/ -- Heritage Property Investment Trust,
Inc. (NYSE:HTG) ("Heritage" or the "Company") confirmed that it is exploring
capital raising joint venture opportunities in the U.S. and abroad involving an
initial contribution of certain of its existing assets and the funding of
future shopping center acquisitions.  No agreement regarding any transaction
has been reached and there is no assurance that any transaction will be
consummated.  The Company will comment further on, and respond to, questions
regarding a possible transaction only if and when a definitive agreement is
entered into and an announcement is made.

ABOUT HERITAGE PROPERTY INVESTMENT TRUST, INC.

Heritage is a fully integrated, self-administered and self-managed REIT traded
on the New York Stock Exchange under the symbol "HTG."  Heritage is one of the
largest owners and operators of neighborhood and community shopping centers in
the United States.  Heritage focuses on grocer-anchored shopping centers with
multiple anchors.  Heritage is headquartered in Boston Massachusetts and has an
additional 16 regional offices located in the Eastern, Midwestern and
Southwestern United States.  For more information about Heritage, please refer
to Heritage's website, http://www.heritagerealty.com/.

Some of the statements contained in this press release constitute
forward-looking statements. Forward-looking statements relate to expectations,
beliefs, projections, future plans and strategies, anticipated events or trends
and similar expressions concerning matters that are not historical facts.  The
forward-looking statements reflect the Company's current views about future
events and are subject to risks, uncertainties, assumptions and changes in
circumstances that may cause the Company's actual results to differ
significantly from those expressed in any forward-looking statement. You should
not rely on forward-looking statements since they involve known and unknown
risks, uncertainties and other factors which are, in some cases, beyond the
Company's control and which could materially affect actual results. The factors
that could cause actual results to differ materially from current expectations
include financial performance and operations of the Company's shopping centers,
including the Company's tenants, real estate conditions, current and future
bankruptcies of the Company's tenants, execution of shopping center
redevelopment programs, the Company's ability to finance the Company's
operations, successful completion of renovations, completion of pending
acquisitions, the availability of additional acquisitions, execution of joint
venture opportunities, changes in economic, business, competitive market,
leasing and regulatory conditions, acts of terrorism or war and other risks
detailed from time to time in filings with the Securities and Exchange
Commission.  The forward-looking statements contained herein represent the
Company's judgment as of the date of this release, and the Company cautions
readers not to place undue reliance on such statements. 

DATASOURCE: Heritage Property Investment Trust, Inc.



CONTACT:  Patrick O'Sullivan, Vice President, Finance and Accounting of

Heritage Property Investment Trust, Inc., [phone],

; or Analyst Info: Claire Koeneman,

[phone], or General Info: Joe Calabrese, [phone], both of

Financial Relations Board 



Web site:  http://www.heritagerealty.com/ 

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