American Finance Trust Inc. agreed to sell three of its owned properties for $148.0 million, excluding closing costs.
The company identified the potential buyer to be a Texas-headquartered institutional real estate investment firm with a focus on office, retail and industrial properties. The sale of the Merrill Lynch Pierce Fenner & Smith properties is subject to customary closing conditions.
American Finance Trust is in the process of acquiring American Realty Capital - Retail Centers of America Inc. in a roughly $1.4 billion deal.