The Necessity Retail REIT Closes Acquisition of 23 Properties.
MANews-(C)2009-2022
US-based real estate investment trust The Necessity Retail REIT, Inc. (NASDAQ: RTL), through its operating partnership, has completed the acquisition of 23 open-air shopping centers for a USD 277.8m, the firm said.
The closing is the fourth and fifth tranche from the previously announced agreement to acquire a portfolio of 81 Power, Anchored and Grocery Centers1 from certain subsidiaries of CIM Real Estate Finance Trust, Inc. for USD 1.3bn.
To date, 79 of the 81 properties have closed.
Footnote 1 Portfolio...
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