Orlando, Fla., Oct. 19, 2017 (GLOBE NEWSWIRE) —
CNL Growth Properties, a real estate investment trust (REIT) which invested in the development of Class A multifamily communities in the mid-Atlantic and Sun Belt regions of the United States, has completed the successful liquidation of its portfolio according to the plan approved by shareholders in August 2016. The company closed on the sale of its 17th and final property, Haywood Reserve in Greenville, South Carolina, on Sept. 29, 2017, for $53.8 million.
During the week of Oct. 23, the company will issue its final cash distribution of $120.7 million, which equals $5.35 per share and compares favorably to the most recent published estimated net asset value per share of $5.01….
Read the full article at: https://globenewswire.com/news-release/2017/10/19/1150503/0/en/CNL-Growth-Properties-Completes-Successful-Liquidation.html
