Another Asset Sale

On September 14, 2018, RVI announced the sale of Gresham Station (Gresham, OR) for $64.5MM, 6.6% above where it had valued this asset ($60.5MM) as of December 31, 2017. In 2018, RVI has sold 8 properties for $268MM, 1.5% above where these properties where marked internally as of December 2017. I estimate that this property was sold at a cap rate of 8.1%. See below for a summary of all the assets that have been sold so far. Please note I’ve estimated the transaction cap rates as they have not been disclosed by management. If you want to know my methodology, just let me know.