First Union Real Estate Equity and Mortgage Investments Announces It Has Entered Into a Contract to Sell Its Little Rock, Arkans
12 Maggio 2004 - 7:07PM
PR Newswire (US)
First Union Real Estate Equity and Mortgage Investments Announces
It Has Entered Into a Contract to Sell Its Little Rock, Arkansas
Mall BOSTON, May 12 /PRNewswire-FirstCall/ -- First Union Real
Estate Equity and Mortgage Investments announced today that it has
entered into an agreement to sell its Park Plaza Mall property
located in Little Rock, Arkansas to an unaffiliated third party for
a gross purchase price of $77,500,000. The sale, which is
tentatively scheduled to close in the second or third quarter of
2004, is subject to the purchaser's due diligence review of the
property and the assumption of the existing loan encumbering the
property by the purchaser. Accordingly there can be no assurance
that the sale will be consummated or, if consummated, at the
current purchase price. Certain statements contained in this press
release that are forward- looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual
results may differ materially. Further information about these
matters and the risks generally with respect to First Union can be
found in First Union's Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the Securities and Exchange
Commission. First Union Real Estate Equity and Mortgage Investments
is a NYSE-listed real estate investment trust (REIT) headquartered
in Boston, Massachusetts. DATASOURCE: First Union Real Estate
Equity and Mortgage Investments CONTACT: Carolyn Tiffany, Chief
Operating Officer of First Union Real Estate Equity and Mortgage
Investments, +1-617-570-4614
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