OLP joint venture to sell NJ shopping center; expects $800k-$900k equity loss

ONE LIBERTY PROPERTIES INC

50%-owned joint venture contracted to sell Manahawkin, NJ property for ~$36.5M; OLP net proceeds ~$6-8M.
Closing expected late 2023; proceeds to reduce credit facility ($16.5M at 7.07% as of Aug 31, 2023).
OLP anticipates Q3 2023 equity in loss from venture of $800k-$900k vs $79k earned in H1 2023.
Regal Cinemas is a tenant at the property; Regal repaid $51k deferred rent in H1 2023.

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