Wheeler Real Estate Investment Trust Sells Two Parcels

Wheeler Real Estate Investment Trust shares were up almost 1% Thursday morning after the company said it has closed on the sale of an outparcel located at Rivergate Shopping Center in Macon, Georgia, and Carolina Place, a 2.14 acre raw land parcel located in Onley, Virginia.

The Rivergate sale resulted in net proceeds of $651,000, while the proceeds of the Carolina property will reduce the principal balance of the company’s loan with Revere Capital by approximately $167,000 to $6.8 million.
The company also reported preliminary unaudited May adjusted funds from operations of $0.15 per share and will announce full financial results for Q2 on August 8.

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