InvenTrust Properties Corp. has announced the sale of a portfolio of five California assets for approximately $306 million. This strategic move is part of the company's ongoing efforts to optimize its portfolio and reallocate capital towards growth-oriented Sun Belt markets. The proceeds from the sale, approximately $275 million, are earmarked for acquisitions in key markets such as Atlanta, Charleston, Phoenix, Central Florida, Richmond, and San Antonio. The transaction aligns with InvenTrust's goal of concentrating its investments in regions with strong economic fundamentals and population growth, further enhancing long-term value for shareholders. The company plans to dispose of its remaining California asset by the end of the year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.