THE NECESSITY RETAIL REIT COMPLETES $70 MILLION STOP & SHOP DISPOSITION
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced the sale of four properties leased to Stop & Shop for $70 million, located in Massachusetts and Rhode Island. CEO Michael Weil emphasized the sale reflects their strategy to dispose of fully valued assets. The proceeds will be used to further reduce debt, supporting their leverage reduction initiative. The company aims to optimize its balance sheet while pursuing additional strategic sales. This disposition aligns with their goal of maintaining a diversified portfolio focused on necessity-based retail properties in the U.S.
- Sale of properties indicates strategic asset disposal.
- Generated $70 million in net proceeds to reduce debt.
- Supports leverage reduction initiative.
- None.
"The sale of this portfolio is an example of our commitment to strategically dispose of assets that have reached their full value, as demonstrated by the favorable pricing we received," said
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