EQK REALTY INVESTORS I ANNOUNCES THE SALE OF CASTLETON PARK.ATLANTA--(BUSINESS WIRE)--September 14, 1995--EQK Realty Investors I (NYSE NYSE See: New York Stock Exchange :EKR eKr Ennen Kristusta (Finnish: Before Christ) EKR Eigenkapitalrendite (German: Return on Equity) ) today announced that it has entered into a letter of intent to sell Castleton Park, its 1.1 million square foot office complex located in Indianapolis, Ind. The purchaser is an affiliate of a major national real estate advisory firm. Under the terms of the sale, the company will receive cash proceeds of approximately $40.3 million before closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, and other transaction expenses. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from this sale will be used to repay outstanding debt. Completion of the transaction is subject to the execution of mutually agreeable documents and normal due diligence procedures. A definitive agreement of sale is expected to be completed within the next 45 days with closing anticipated prior to Dec. 31, 1995. In addition to Castleton Park, the company's other real estate investment is Harrisburg East Mall in Harrisburg, Pa. CONTACT: EQK Realty Investors I Gregory R. Greenfield William G. Brown William Gay Brown can refer to:
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