RPT - RPT Realty acquires Mary Brickell Village in Miami
- RPT Realty ( NYSE: RPT ) has acquired Mary Brickell Village in Miami, Florida for a contract price of $216M or $111M at the company's pro-rata share.
- The acquisition was made through the firm's grocery-anchored joint venture platform.
- Mary Brickell Village is a grocery-anchored, mixed-use center spanning over 200K sq ft. The property is currently 78% occupied with 31,700 sq ft of signed leases, representing ~16% of occupancy upside, with attractive contractual rent growth providing visible near-term earnings upside.
- It is anchored by Publix supermarket and features a strong lineup of food and beverage, service and necessity tenants.
- In other news, RPT Realty ( RPT ) reported better-than-expected Q2 results
For further details see:
RPT Realty acquires Mary Brickell Village in Miami