TIER REIT Announces Exit from Baltimore with Sale of 500 East Pratt
February 14 2018 - 4:30PM
Business Wire
TIER REIT, Inc. (NYSE: TIER) announced today that it has
completed the sale of 500 East Pratt, a 280,000 square foot
property located in Baltimore, Maryland, for $60 million. The sale
marks the Company’s anticipated exit from the Baltimore market, and
reduces the number of markets in which the Company operates to six,
including five of the Company's target growth markets of Austin,
Dallas, Houston, Charlotte and Nashville.
About TIER REIT, Inc.
TIER REIT, Inc. is a publicly traded (NYSE:TIER), self-managed,
Dallas-based real estate investment trust focused on owning
quality, well-managed commercial office properties in dynamic
markets throughout the U.S. TIER REIT’s vision is to be the premier
owner and operator of best-in-class office properties in TIER1
submarkets, which are primarily higher density and amenity-rich
locations within select, high-growth metropolitan areas that offer
a walkable experience to various amenities. Our mission is to
provide unparalleled, TIER ONE Property Services to our tenants and
outsized total return through stock price appreciation and dividend
growth to our stockholders.
For additional information regarding TIER REIT, please visit
www.tierreit.com or call 972.483.2400.
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version on businesswire.com: http://www.businesswire.com/news/home/20180214006369/en/
TIER REIT, Inc.Scott McLaughlin, 972-483-2465smclaughlin@tierreit.com
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