Agree Realty (ADC) Acquires Wawa Portfolio for $14.2 Million
Get Alerts ADC Hot Sheet
Price: $58.05 -0.55%
Overall Analyst Rating:
BUY ( Down)
Dividend Yield: 5.2%
Revenue Growth %: +18.0%
Overall Analyst Rating:
BUY ( Down)
Dividend Yield: 5.2%
Revenue Growth %: +18.0%
Join SI Premium – FREE
Agree Realty Corporation (NYSE: ADC) has acquired a portfolio of three Wawa convenience and fuel stores. The stores are located in Clifton Heights, Pennsylvania, Newark, Delaware and Vineland, New Jersey and are master leased by Wawa. The base term of the master lease has approximately 9.5 years remaining.
The cost of the portfolio acquisition was approximately $14,200,000 including the assumption of $8,580,000 of non-recourse mortgage debt. The assumed debt matures in June 2016 and carries a 6.56% interest rate
The cost of the portfolio acquisition was approximately $14,200,000 including the assumption of $8,580,000 of non-recourse mortgage debt. The assumed debt matures in June 2016 and carries a 6.56% interest rate
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Paramount Global (PARA) and Skydance are closer to a merger - CNBC
- Western Digital (WDC) posts FQ3 earnings, revenue beat; shares down
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!