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Spirit MTA REIT closes asset transfer in liquidation plan

Spirit MTA REIT transferred all of its assets to a new liquidating trust, finalizing the single-tenant net-lease real estate investment trust's dissolution and termination.

SMTA Liquidating Trust was formed under a Jan. 1 agreement between Spirit MTA and its four trustees, who will serve as initial trustees of the liquidating trust. The liquidating trust distributed all of its units of beneficial interests to Spirit MTA's shareholders at a ratio of one liquidating trust unit per common share then held of record.

A unit of Spirit Realty Capital Inc. will handle the day-to-day affairs of the liquidating trust, as well as the liquidation of its assets.