Inventrust Properties Corp. has made significant moves in its portfolio, with the successful disposition of a portfolio comprising five California assets for approximately $306 million. The company's President and CEO, DJ Busch, emphasized the strategic nature of the transaction, citing the company's focus on portfolio optimization and strategic capital allocation.
Of the proceeds from the sale, approximately $275 million are allocated to acquisitions that have closed, are under contract, or have been awarded. This demonstrates the company's ability to redeploy capital in an effective and disciplined manner. Furthermore, the company remains confident that it will meet its net acquisition guidance of $100 million for the year.
The proceeds from the sale will be reinvested into key Sun Belt markets such as Atlanta, Charleston, Phoenix, Central Florida, Richmond, and San Antonio. These markets have consistently demonstrated robust economic fundamentals and population growth, aligning with the company's long-term value creation strategy.
It's worth noting that the company has one remaining asset in California, which is slated to be disposed of by the end of the year, as previously outlined in the initial guidance provided by the company in February 2025.
In terms of specifics, the California disposition assets include: Bear Creek Village Center in Inland Empire, Wildomar, CA Pavilion at LaQuinta in Inland Empire, La Quinta, CA River Oaks in Los Angeles, Santa Clarita, CA Campus Marketplace in Los Angeles, San Marcos, CA * Old Grove Marketplace in San Diego, Oceanside, CA
Inventrust Properties Corp. is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires, and manages grocery-anchored neighborhood and community centers, as well as high-quality power centers. The company's strategic focus on Sun Belt markets and its ability to effectively reallocate capital underscores its commitment to creating long-term value for its shareholders. As a result of these announcements, the company's shares have moved -1.34% on the market, and are now trading at a price of $27.96. Check out the company's full 8-K submission here.
