7.14.22 | This week we recognized 2 capital-related transactions with a disclosed value of $1.3 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $1.3 | Necessity Retail REIT Closes on $1.3 Billion Portfolio Acquisition |
| N/A | Seritage Growth Properties Looks to Sell Off All Assets |
| $1.3 | Total |
Summary of Transaction Headlines
Connectcre | “Necessity Retail REIT Closes on $1.3 Billion Portfolio Acquisition”
The Necessity Retail REIT (RTL) said Monday that it had completed its $1.3 Billion acquisition of 81 power, anchored and grocery centers from certain subsidiaries of CIM Real Estate Finance Trust for $1.3 Billion. The acquisition included the assumption of $356 Million in debt. RTL also said that year to date, it had acquired 93 properties for a total of $1.4 Billion. The acquired properties total 10.2 Million Square Feet and were acquired at a cash cap rate of 7.24% and a weighted-average capitalization rate of 8.60%.
The Real Deal | “Seritage Growth Properties Looks to Sell Off All Assets”
Sears spinoff Seritage Growth Properties could sell all of its assets and dissolve as its deadline to pay off a loan from Warren Buffett’s firm nears. The company’s board has recommended a plan to liquidate its properties and return the proceeds to shareholders, according to a proxy filing released on Thursday. The plan requires a two-thirds vote from shareholders, but it is already about halfway there. Eddie Lampert, the former chairman of Seritage, exchanged his equity in the company for shares and agreed to vote for the plan. Lampert now owns about 29 percent of the company’s outstanding Class A shares, according to the proxy filing.
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Large Platform Events | Issue 26.16
Large Platform Events | Issue 26.15
