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-0.00434404865334479 -0.00434404865334479 -0.00434404865334479 -0.00434404865334479 -0.00521285838401385 -0.00521285838401385 0.00260642919200705 0.00955690703735889
Stock impact report

FRP Holdings, Inc. (NASDAQ:FRPH) Announces Closing of Sale of Its Industrial Warehouse Portfolio to Blackstone

FRP Holdings, Inc. (FRPH) 
US:NASDAQ Investor Relations: frpholdings.com/investor-relations.html
Company Research Source: GlobeNewswire
JACKSONVILLE, Fla., May 22, 2018 (GLOBE NEWSWIRE) -- FRP Holdings, Inc. (NASDAQ:FRPH) (the “Company”) today announced that it has closed on a deal to sell 40 industrial warehouses and three additional land parcels to an affiliate of Blackstone Real Estate Partners VIII, L.P. (“Blackstone”), for a total purchase price of $347.2 million. One warehouse property was excluded from the sale as the tenant exercised its right of first refusal to purchase the property for $11.7 million. Commenting on the transaction, John D. Baker II, Executive Chairman and CEO of the Company stated: “This sale represents nearly three decades of hard work and value creation by our team in Baltimore. It was a great opportunity and marks a tremendously important day for this Company and its shareholders. We look forward to redeploying these proceeds in our other business segments.” Eastdil Secured, L.L.C. served as the Company’s exclusive broker in connection with the sale, and Houlihan Lokey Capital, Inc. se Show less Read more
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