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Ramco-Gershenson sells 4 shopping centers for $101M in Q4'17

Ramco-Gershenson Properties Trust sold four noncore shopping centers for $101.4 million during the fourth quarter of 2017.

The properties are the 273,000-square-foot Millennium Park in Livonia, Mich.; the 158,000-square-foot Village Plaza in Lakeland, Fla.; the 107,000-square-foot Liberty Square in Wauconda, Ill.; and the 134,000-square-foot Rolling Meadows in Rolling Meadows, Ill.

In aggregate, the shopping center-focused retail real estate investment trust made $225.7 million from shopping center disposals during the year ended Dec. 31, 2017.

In addition, Ramco-Gershenson affirmed its 2018 funds from operations and operating FFO guidance within the range of $1.31 and $1.37 per share.

The S&P Capital IQ consensus FFO-per-share estimate for the full year is $1.34.