Maxus Realty Trust has a contract to sell the property, one oftwo office assets in its portfolio, to Nebraska-based SGDInvestments, Inc. The sale is subject to SGD Investment's duediligence as well as receiving approval from the mortgage holder toassume Maxus Realty Trust's debt on the property.
Maxus Realty Trust also says the sale could become part of aSection 1031 exchange. It most likely would acquire a multifamilyproperty, as it continues to move toward that sector. Assuming thesale closes, the REIT's sole office asset would be the 89,000-sfAtrium Business Center in Bloomington, MN, which it has held since1985. Meanwhile, Maxus Realty Trust has five multifamily complexes,totaling 812 units, in Little Rock, AR; Olathe, KS; Topeka, KS andKansas City.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
