OAK BROOK, IL—InvenTrust Properties Corp. has just successfully completed the spin-off of Highlands REIT, Inc., part of a long-term strategy to shed non-core assets and transform itself into a retail REIT.
On April 28 each InvenTrust stockholder received one share of Highlands common stock for every share of InvenTrust common stock held on April 25. Following the distribution, InvenTrust no longer owns any shares of common stock of Highlands.
“This is the next step in executing our long-term portfolio strategy,” says Thomas P. McGuinness, president and chief executive officer of InvenTrust. “This event brings InvenTrust closer to becoming a pure-play retail REIT, while also allowing the management teams at both companies to focus solely on their portfolio of assets to maximize value for the stockholders.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
