Plymouth Industrial REIT Sold Its 306,552-square-foot Industrial Building At 6510 West 73rd Street In Chicago For $19.9 Million To An Undisclosed Owner-User
Portfolio Pulse from Benzinga Newsdesk
Plymouth Industrial REIT has sold its 306,552-square-foot industrial building in Chicago for $19.9 million. After paying off a $5.8 million mortgage and other adjustments, the net proceeds are $13.9 million. The company plans to use the proceeds to pay down outstanding borrowings on its credit facility and fund its development program.
September 18, 2023 | 11:21 am
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Plymouth Industrial REIT's sale of its Chicago property will result in net proceeds of $13.9 million, which will be used to pay down debt and fund development.
The sale of the property will provide Plymouth with additional liquidity, which it plans to use to reduce its debt and fund its development program. This could strengthen the company's financial position and potentially make it more attractive to investors, which could have a positive impact on its stock price.
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