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NEWTON, MASS—Spirit MTA REIT shareholders have approved the previously-announced sale of a portfolio of 774 service-oriented net-leased retail properties to Hospitality Properties Trust for $2.4 billion. Hospitality Properties expects the deal will close on Sept. 20, 2019.
Spirit shareholders also approved a voluntary liquidation plan, with the sale representing a critical step in the full wind-down of the REIT.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
