content: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
         Date of Report (Date of earliest event reported): December 30, 2002
  
                                KRAMONT REALTY TRUST
                 (Exact Name of Registrant as Specified in Charter)
  
  
            Maryland                      1-15923                  25-6703702
   -----------------------------    ------------------------   -------------------
  (State or other                   (Commission File Number)    (I.R.S. Employer
  jurisdiction of                                              Identification No.)
  incorporation or organization)
  
  
  
  
                                   Plymouth Plaza
                              580 West Germantown Pike
                        Plymouth Meeting, Pennsylvania 19462
   ------------------------------------------------------------------------------
            (Address, including zip code, of Principal Executive Offices)
         Registrant's telephone number, including area code: (610) 825-7100
  
                                   NOT APPLICABLE
           (Former Name, or Former Address, if Changed Since Last Report)
  
  
  
  <PAGE>
  
  
  
  ITEM 5.  OTHER EVENTS.
  
       On December 30, 2002, Kramont Operating  Partnership,  L.P. ("Kramont OP"),
  Kramont Realty Trust's (the "Company") operating partnership,  initiated funding
  pursuant to a Loan  Agreement (the "Loan  Agreement"),  dated December 20, 2002,
  between  Kramont OP and Fleet National Bank, N.A. on its own behalf and as agent
  for certain other banks providing for a credit facility (the "Credit Facility").
  As of the date of the initial funding, the maximum amount of the Credit Facility
  is  $100,000,000  and the maximum  amount which  Kramont OP may borrow under the
  Credit Facility (the "Borrowing Base") is approximately $68,000,000. The maximum
  amount of the Credit Facility may be increased to $125,000,000,  under the terms
  and conditions of the Loan Agreement. The Borrowing Base available to Kramont OP
  under the Credit  Facility is subject to  increase or decrease  from its current
  amount pursuant to the terms of the Loan Agreement.  The Loan Agreement provides
  for  monthly  payments  to the  lenders  of  interest  only,  subject to certain
  mandatory  principal  payments  from  time  to  time  under  certain  terms  and
  conditions  described therein. The Credit Facility is a revolving line of credit
  with a term of three years which is  guaranteed  by the Company and those of its
  subsidiaries who have provided mortgages to the lenders.  The Credit Facility is
  secured by these  guarantees,  16 first  mortgages on shopping  centers  located
  throughout  the East  Coast  owned  by the  subsidiaries,  and a first  priority
  security interest in the membership  interests and partnership  interests of the
  subsidiary   entities  and  their  respective  managers  and  general  partners.
  Additional  subsidiary  guarantees,  mortgages  and  security  interests  may be
  created  under the  Credit  Facility  and  existing  guarantees,  mortgages  and
  security  interests  released as collateral for the Credit  Facility,  under the
  terms and conditions of the Loan Agreement. The Credit Facility contains various
  financial  covenants that must be observed.  Financial  covenants  include a net
  worth requirement,  an interest expense coverage requirement, a maximum leverage
  ratio requirement,  a minimum fixed charge ratio  requirement,  and requirements
  concerning permitted  distributions and investments.  Credit Facility borrowings
  bear interest (a) at the prime rate or the prime rate plus 25 basis points based
  on the  leverage  ratio  of the  Company's  and  Kramont  OP's  total  debt  and
  liabilities  to its total asset value,  or (b) LIBOR (London  InterBank  Offered
  Rate) plus 175 to 225 basis  points based on such ratio.  Interest  rates may be
  set for one, three or six-month periods.  Advances under the Credit Facility may
  be used for  general  corporate  purposes  and,  among other  purposes,  to fund
  acquisitions, repayment of all or part of outstanding indebtedness,  expansions,
  renovations,  financing and  refinancing  of real estate,  closing costs and for
  other lawful purposes.  Additional provisions include arrangement and commitment
  fees of up to $975,000,  with the  commitment fee subject to an increase of 0.5%
  of subsequent  commitments in excess of $100,000,000 and a fee applicable to the
  unused portion of the maximum Credit Facility amount.  The $67,988,000  received
  today is expected to be applied in part to the  repayment of  outstanding  debt,
  including  a  portion  of the  amount  outstanding  under the  Company's  credit
  facility with GMAC Commercial Mortgage.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                        -2-
  
  <PAGE>
  
  
  
                                     SIGNATURES
  
  
  
         Pursuant to the requirements of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
  
  
  
                                                   KRAMONT REALTY TRUST
  
  
  
  
  Date: December 30, 2002                     By:  /s/ Carl E. Kraus
                                                   --------------------
                                                     Carl E. Kraus
                                                     Senior Vice President and
                                                     Chief Financial
                                                      and Investment Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                        -3-
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "e100664.txt", "secsgml_size_bytes": 5825}]
metadata_filer: {"company-data": {"conformed-name": "KRAMONT REALTY TRUST", "cik": "0001111205", "assigned-sic": "6798", "irs-number": "256703702", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15923", "film-number": "02871447"}, "business-address": {"street1": "580 WEST GERMANTOWN PIKE", "city": "PLYMOUTH MEETING", "state": "PA", "zip": "19462", "phone": "6108257100"}, "mail-address": {"street1": "580 WEST GERMANTOWN PIKE", "city": "PLYMOUTH MEETING", "state": "PA", "zip": "19462"}}
text: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
         Date of Report (Date of earliest event reported): December 30, 2002
  
                                KRAMONT REALTY TRUST
                 (Exact Name of Registrant as Specified in Charter)
  
            Maryland                      1-15923                  25-6703702
   -----------------------------    ------------------------   -------------------
  (State or other                   (Commission File Number)    (I.R.S. Employer
  jurisdiction of                                              Identification No.)
  incorporation or organization)
  
                                   Plymouth Plaza
                              580 West Germantown Pike
                        Plymouth Meeting, Pennsylvania 19462
   ------------------------------------------------------------------------------
            (Address, including zip code, of Principal Executive Offices)
         Registrant's telephone number, including area code: (610) 825-7100
  
                                   NOT APPLICABLE
           (Former Name, or Former Address, if Changed Since Last Report)
  ITEM 5.  OTHER EVENTS.
  
       On December 30, 2002, Kramont Operating  Partnership,  L.P. ("Kramont OP"),
  Kramont Realty Trust's (the "Company") operating partnership,  initiated funding
  pursuant to a Loan  Agreement (the "Loan  Agreement"),  dated December 20, 2002,
  between  Kramont OP and Fleet National Bank, N.A. on its own behalf and as agent
  for certain other banks providing for a credit facility (the "Credit Facility").
  As of the date of the initial funding, the maximum amount of the Credit Facility
  is  $100,000,000  and the maximum  amount which  Kramont OP may borrow under the
  Credit Facility (the "Borrowing Base") is approximately $68,000,000. The maximum
  amount of the Credit Facility may be increased to $125,000,000,  under the terms
  and conditions of the Loan Agreement. The Borrowing Base available to Kramont OP
  under the Credit  Facility is subject to  increase or decrease  from its current
  amount pursuant to the terms of the Loan Agreement.  The Loan Agreement provides
  for  monthly  payments  to the  lenders  of  interest  only,  subject to certain
  mandatory  principal  payments  from  time  to  time  under  certain  terms  and
  conditions  described therein. The Credit Facility is a revolving line of credit
  with a term of three years which is  guaranteed  by the Company and those of its
  subsidiaries who have provided mortgages to the lenders.  The Credit Facility is
  secured by these  guarantees,  16 first  mortgages on shopping  centers  located
  throughout  the East  Coast  owned  by the  subsidiaries,  and a first  priority
  security interest in the membership  interests and partnership  interests of the
  subsidiary   entities  and  their  respective  managers  and  general  partners.
  Additional  subsidiary  guarantees,  mortgages  and  security  interests  may be
  created  under the  Credit  Facility  and  existing  guarantees,  mortgages  and
  security  interests  released as collateral for the Credit  Facility,  under the
  terms and conditions of the Loan Agreement. The Credit Facility contains various
  financial  covenants that must be observed.  Financial  covenants  include a net
  worth requirement,  an interest expense coverage requirement, a maximum leverage
  ratio requirement,  a minimum fixed charge ratio  requirement,  and requirements
  concerning permitted  distributions and investments.  Credit Facility borrowings
  bear interest (a) at the prime rate or the prime rate plus 25 basis points based
  on the  leverage  ratio  of the  Company's  and  Kramont  OP's  total  debt  and
  liabilities  to its total asset value,  or (b) LIBOR (London  InterBank  Offered
  Rate) plus 175 to 225 basis  points based on such ratio.  Interest  rates may be
  set for one, three or six-month periods.  Advances under the Credit Facility may
  be used for  general  corporate  purposes  and,  among other  purposes,  to fund
  acquisitions, repayment of all or part of outstanding indebtedness,  expansions,
  renovations,  financing and  refinancing  of real estate,  closing costs and for
  other lawful purposes.  Additional provisions include arrangement and commitment
  fees of up to $975,000,  with the  commitment fee subject to an increase of 0.5%
  of subsequent  commitments in excess of $100,000,000 and a fee applicable to the
  unused portion of the maximum Credit Facility amount.  The $67,988,000  received
  today is expected to be applied in part to the  repayment of  outstanding  debt,
  including  a  portion  of the  amount  outstanding  under the  Company's  credit
  facility with GMAC Commercial Mortgage.
  
                                        -2-
  SIGNATURES
  
         Pursuant to the requirements of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
                                                   KRAMONT REALTY TRUST
  
  Date: December 30, 2002                     By:  /s/ Carl E. Kraus
                                                   --------------------
                                                     Carl E. Kraus
                                                     Senior Vice President and
                                                     Chief Financial
                                                      and Investment Officer
  
                                        -3-