Retail Properties of America Announces $190 million of Strategic Dispositions in the Third Quarter 2012
Retail Properties of America, Inc. (NYSE: RPAI) today announced that, as part of its strategic initiative to enhance its balance sheet through the disposition of non-core and non-strategic assets, it has completed the sale of 18 non-core and non-strategic assets with a gross sales price of $190 million during the third quarter of 2012. Proceeds from the transactions were used to repay $133 million in related mortgage debt with additional net proceeds further reducing leverage. As of October 1, all 2012 debt maturities have been addressed.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.