Strategic Realty Trust Sells Two Retail Centers for $39 Million

Strategic Realty Trust Inc., a publicly registered non-traded real estate investment trust formerly known as TNP Strategic Retail Trust Inc., sold two properties in its retail portfolio for $39 million.

The REIT sold a 78,000-square-foot shopping center in Moreno Valley, California to The Phillips Edison Group LLC for $19.4 million in cash. The property was originally purchased in November 2009 for $12.5 million.

Strategic Realty Trust also sold a 112,000-square-foot shopping center in the Atlanta suburb of Fayetteville, Georgia to New Market Properties LLC for $19.6 million in cash. The property was originally purchased in December 2011 for $16.8 million.

Strategic Realty Trust, is a non-traded real estate investment trust which owns a portfolio of shopping centers that are anchored by such grocers as Publix, Kroger, and Wal-Mart. The company is advised by SRT Advisors LLC, an affiliate of Glenborough LLC, a privately held full-service real estate investment and management company that also acts as the company’s property manager.