Recent Press Releases

Medalist Diversified REIT Announces the Sale of the Hampton Inn in Greensboro, North Carolina

Details
On August 31, 2021, Medalist Diversified Holdings, L.P., the operating partnership of Medalist Diversified REIT, Inc., completed a successful sale of the Company’s Hampton Inn Property in Greensboro, North Carolina (the “Property”) to an unaffiliated purchaser. The sales price of the Property was $12,900,000. After repayment of the $10.4 million mortgage on the Property and payment of the sales commission and closing costs, net proceeds from the transaction were approximately $2.1 million. Of these proceeds, approximately $380,000 were due to an unrelated, non-controlling owner of the Property. The Company’s net proceeds from the transaction were approximately $1.7 million.

Thomas Messier, CEO of Medalist Diversified REIT, commented that “the successful sale of the Hampton Inn Property demonstrates the Company’s continued successful implementation of its strategy.”