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Medalist Diversified Reit Announces The Purchase Of Salisbury Marketplace And The Completion Of A Financing Transaction With Wells Fargo Bank

Jun 13, 2022•over 3 years ago
Real EstateOtherSales And Marketing

Description

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the “Company” or “Medalist”), a Virginia-based real estate investment trust that specializes in acquiring and managing commercial real estate in the Southeastern United States, today announced Medalist Diversified Holdings, L.P., the operating partnership of Medalist, completed the purchase of a community shopping center consisting of 79,732 square feet of leasable area in Salisbury, North Carolina, commonly referred to as Salisbury Marketplace (“Salisbury Marketplace”), from an unaffiliated seller for a purchase price of $10,025,000 on June 10, 2022. The Company invested approximately $3.3 million of cash in Salisbury Marketplace, which is anchored by Food Lion, CitiTrends and Family Dollar.

Company Information

Company

Medalist Diversified Reit

About

Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S. The Company’s strategy is to focus on commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent and replicable process for sourcing and conducting due diligence of acquisitions. For more information on Medalist, please visit the Company website at https://www.medalistreit.com.