Highlands REIT Sells Longview, Washington Property for $38.3 Million
September 28, 2018 | James Sprow | Blue Vault
On September 24, 2018, Highlands REIT, Inc. completed the sale of its Triangle Center property a 260,627 square-foot retail property located in Longview, Washington, for a gross sale price of $38.3 million (before certain credits, prorations and closing costs). The property was sold to Village Square Associates II, LLC, a buyer unaffiliated with the Company. This transaction is not otherwise considered material to the Company.
The Triangle Center property was transferred to Highlands REIT Inc. in April 2016 in the spin-off of Highlands REIT by InvenTrust Properties. It was originally purchased by InvenTrust Properties in December 2005 for $40.0 million. It was carried on the books of Highlands REIT as of December 31, 2017, at $40.9 million, with accumulated depreciation of $12.0 million.
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