THE NECESSITY RETAIL REIT ANNOUNCES OVER $180 MILLION OF COMBINED YEAR-TO-DATE PROPERTY SALES AND DISPOSITION PIPELINE¹
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced property sales totaling $72.4 million in 2023, with additional planned sales of $5.4 million and $103.7 million from properties under agreements. This brings the total to $181.5 million in property sales expected to be directed towards debt repayment. CEO Michael Weil emphasized the company's focus on reducing leverage and executing its disposition strategy following $1.4 billion in acquisitions last year. The announcement underlines RTL's commitment to its business strategy amidst ongoing market challenges.
- Completed property sales totaling $72.4 million in 2023.
- Pipeline includes additional sales of $5.4 million and $103.7 million.
- Total of $181.5 million in property sales expected.
- Net proceeds intended for debt repayment.
- None.
"The dispositions we have completed this year and the pipeline of property sales we are building, the net proceeds of which we expect to use for debt repayment, demonstrate our continued strategic execution following the
Footnote
1. Pipeline as of
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Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as "may," "will," "seeks," "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "should" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of RTL's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of (i) the global COVID-19 pandemic, including actions taken to contain or treat COVID-19, (ii) the geopolitical instability due to the ongoing military conflict between
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