In late June a bankruptcy judge approved the sale of 54 real estate leases by Kmart Corp. (KM) to a joint venture between Klaff Realty, LP., Kimco Realty Corp. and and Schottenstein Stores Corp. The group paid $43 million for the leases, which were bundled together.

"Our acumen has been honed over 21 years of corporate sell-offs and bankruptcy situations," said Hersch Klaff, managing director. To date, Klaff Realty, LP., has acquired properties totaling approximately 27 million square feet valued in excess of one billion dollars.