iStar Inc. (OTCMKTS:SFICP) Files An 8-K Other Events
ITEM 8.01Other Events.
On March 23, 2019, iStar Inc. (“iStar”) entered into a definitive agreement to sell its portfolio of properties leased to Preferred Freezer Services, LLC to a third party for a price of $442.5 million, including the assumption of $228 million of debt by the purchaser. The transaction is expected to close in the second quarter of 2019, subject to the satisfaction of customary closing conditions and the receipt of lender approval. There can be no assurance that the closing of the transaction will happen in the expected timeframe or at all.
iStar intends to use the net sale proceeds for new investments and working capital. iStar preliminarily expects to record an estimated net gain of approximately $215 million in its financial statements in the quarter in which the sale closes.
ITEM 9.01Financial Statements andExhibits.
ISTAR INC. Exhibit
EX-99.1 2 istarannouncessaleofpref….
To view the full exhibit click