USA (unsplash photo)
Medipower reports the signing of a letter of intent to purchase its first commercial center in the Washington metropolitan area of Washington, D.C., which includes a commercial center located in the state of Virginia, with a total area for rent of approximately 10,365 square meters and a nearby plot of land of approximately 7,000 square meters. The total purchase in respect of the property determined in the letter of intent amounts to a total of US $ 36.5 million (excluding purchase costs).
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In the opinion of the company and in accordance with the presentations presented by the seller, theWE The current value of the property is about 2.54 million US dollars per year, the average lease is about 2.4 years, the total occupancy rate of the property is about 100% and the average rent per square meter is about 20.4 US dollars per month. Estimates that as long as a detailed agreement is signed at the end of the day and the due diligence is completed to the Company’s satisfaction, then the transaction to purchase the property will be completed during the third quarter of 2022.
This transaction is a direct continuation of the implementation of Medipower’s growth strategy, which is based on locating investment opportunities alongside business and geographical focus in the Northeastern USA. About 9% in the next 5 years.
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At the same time, and as part of establishing Medipower’s position as a dominant player in the market for supermarket-anchored shopping centers in the Philadelphia metropolitan area, the company announced about two weeks ago that it is negotiating to purchase a commercial center located in Pennsylvania, USA.10,320 Sq.m., for a total of $ 19.25 million (excluding acquisition costs). Medipower estimates that negotiations will be completed during the second quarter of 2022.
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