MDRR - Medalist Diversified REIT sells Clemson Best Western University Inn for ~$10M

• Medalist Diversified REIT ( NASDAQ: MDRR ) announced that Medalist Diversified, the operating partnership of the company, completed a successful sale of Clemson Best Western University Inn, located in Clemson, South Carolina, to an unaffiliated purchaser on September 29, 2022.
• The property sold for $10,015,000.
• After retiring the mortgage payable of $7,750,000 and payment of closing costs, the company realized approximately $1.8M in net cash from the sale of the property.
• Including the release of reserves and escrows held by the lender, the company generated ~$3.2M in unrestricted cash from the transaction.

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