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Retail Properties of America Announces $190 million of Strategic Dispositions in the Third Quarter 2012

Paul Quintaro, Benzinga Staff Writer

October 02, 2012 4:28 PM

Tickers: RPAI

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.

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Posted in: News, Guidance

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