from SNL Real Estate Daily
Agree Realty discloses Q4'21 property acquisitions, sales
Byline: Maera Tezuka
Agree Realty Corp. reached approximately $314.7 million in total acquisition volume for the 2021 fourth quarter and sold five properties for gross proceeds of about $9.6 million during the period.
In reporting its latest results, the single-tenant retail real estate investment trust said the acquisitions included 71 properties across 29 U.S. states that are net leased to retailers operating in the general merchandise, home improvement, grocery, off-price retail, convenience stores, tire and auto service and auto parts sectors.
During the same period, the REIT entered into forward sale agreements under its at-the-market equity offering program to sell 207,166 common shares for approximately $14.2 million in expected net proceeds.
It settled 1,501,210 shares under forward sale agreements signed through the offering program for net proceeds of roughly $94.2 million.