One Liberty president Patrick J. Callan Jr. said in a statement that the acquisition is on target with the REIT's strategy of acquiring well-located real estate that is net leased. The REIT, which funded the acquisition by paying $24.25 million in cash and assuming an existing first mortgage, was not available for comment by press time.According to previous GSR reports, the portfolio was brokered by Reston, VA-based Calkain Institutional Advisors on behalf of a large institutional owner.
Atlanta-based Haverty's operates 118 stores in 16 Southern and Midwestern states. Most recently, the chain announced that its first quarter 2006 sales increased 0.7% to $209.1 million, compared with $207.6 million in 2005. On a comparable store basis, sales decreased 0.6% for the first quarter.
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