EX-99.1 2 tm2416190d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

GRAPHIC

SUCCESSFULLY EXECUTING DISPOSITION PLAN & USING THE SALE PROCEEDS TO REDUCE LEVERAGE Disposition Name Expected Closing # of Properties Disposition Price (in mm)(1) Cash Cap Rate(2) Wtd. Avg. Lease Term Remaining(3) Closed (As of 5/31/24): Truist Properties (ST Retail) Closed 20 $50.3 – – Decatur Commons (MT Retail) Closed 1 $15.6 – – Shippensburg Marketplace (MT Retail) Closed 1 $6.6 – – Total Occupied Assets Closed 22 $72.6 6.7% 5.3 Years Total Vacant Assets Closed 18 $48.3 – – Total Closed (As of 5/31/24) 40 $120.9 6.7% 5.3 Years Signed PSA: Non-Refundable Deposit Q2’24 – Q3’24 10 $186.5 7.8% 3.5 Years In Due-Diligence Q2’24 – Q3’24 4 $147.6 6.9% 4.2 Years Total Occupied Assets Q2’24 – Q3’24 14 $334.1 7.4% 3.7 Years Non-Refundable Deposit Q2’24 – Q4’24 9 $79.9 – – In Due-Diligence Q2’24 – Q4’24 3 $3.9 – – Total Vacant Assets Q2’24 – Q4’24 12 $83.8 – – Total Signed PSA 26 $417.9 7.4% 3.7 Years Executed LOI: Occupied / Vacant Assets Q2’24 – Q3’24 3 $28.3 – – Total Executed LOI 3 $28.3 – – Total 2024 Dispositions To Date 69 $567.0 7.2% 4.4 Years Note: Data as of May 31, 2024. 1. Assumed Signed PSAs and executed LOIs lead to definitive sales on their contemplated terms, which is not assured. 2. Calculated as NOI divided by disposition price. 3. Weighted average remaining lease term in years is based on square feet as as of date of sale.