OAK BROOK, Ill., Feb. 1, 2016 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI) (or the "Company") announced today that the Company sold The Gateway through a lender-directed sale in full satisfaction of its mortgage debt of approximately $94.4 million. The mortgage had an interest rate of 6.57%. The Company expects to record gains on the sale and extinguishment of debt in the first quarter of 2016.
About RPAI Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of September 30, 2015, the Company owned 201 retail operating properties representing 29.2 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.
Contact Information Michael Fitzmaurice, VP - Finance Retail Properties of America, Inc. 630-634-4233
SOURCE Retail Properties of America, Inc.