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The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced property sales totaling $72.4 million in 2023, with additional planned sales of $5.4 million and $103.7 million from properties under agreements. This brings the total to $181.5 million in property sales expected to be directed towards debt repayment. CEO Michael Weil emphasized the company's focus on reducing leverage and executing its disposition strategy following $1.4 billion in acquisitions last year. The announcement underlines RTL's commitment to its business strategy amidst ongoing market challenges.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced that CEO Michael Weil will participate in a fireside chat at Nareit's REITweek 2023 Investor Conference on June 7, 2023, at 11:45 a.m. ET in New York. The event will take place at the Hilton Midtown hotel. This conference runs from June 6 to June 8, 2023, where the Company will also hold meetings with the investment community. RTL focuses on necessity-based retail properties across the U.S. As a publicly traded REIT, it operates primarily in single-tenant locations and open-air shopping centers.
For more information about RTL, visit www.necessityretailreit.com.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced significant leasing activity for the quarter ending March 31, 2023. The company completed 996,000 square feet of multi-tenant leasing, signing 26 new leases totaling 274,000 square feet with over $4 million in annualized straight-line rent, and 44 lease renewals for over 722,000 square feet generating more than $7 million in annualized rent. CEO Michael Weil noted continued success in asset management and strong interest from quality tenants, reinforcing expectations for leasing momentum through the year.
The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) has announced it will release its Q1 2023 financial results on May 10, 2023, prior to Nasdaq trading. A conference call will follow at 11:00 a.m. ET the same day, where management will discuss results and business performance, with a Q&A session for analysts and investors. Interested parties can access the call via the company's website. The REIT focuses on acquiring and managing necessity-based retail properties across the U.S. This announcement highlights RTL's ongoing communication efforts with investors amid challenging economic conditions.