RPT - RPT Realty reports $375M third-party acquisitions in December

• RPT Realty ( NYSE: RPT ) on Tuesday reported third-party acquisitions totaling $375M, or $223.4M at its pro-rata share, for 2022 through its investment platforms.
• The REIT also closed on dispositions and contributions into its joint venture platforms totaling $282.9M, or $197.7M at its pro-rata share.
• RPT ( RPT ) closed on $1.2B of gross capital in 2022.
• "We were opportunistic with our balance sheet management, completing $1.2B of total capital markets activity in 2022 resulting in longer duration, higher liquidity and lower floating rate exposure," said CEO Brian Harper.
• During Q4, RPT ( RPT ) closed on the contribution of two properties into its grocery-anchored JV platform for contract price of $162.7M, retaining a 51.5% stake in both properties.
• Proceeds were used to fund the REIT's share of the Mary Brickell Village acquisition in Miami that closed in Q3.
• "At the end of 2022, the company had no debt maturing until 2025 and fixed all remaining term loan debt through maturity, significantly reducing RPT's ( RPT ) exposure to the impact of rising interest rates," said CFO Michael Fitzmaurice.
• Last week, Deutsche Bank downgraded RPT ( RPT ) along with a raft of REITs to Hold .

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