Medalist Diversified REIT Announces Extension of Clemson University Rental Agreement Through May 2021 for Its Clemson Best We...
December 15 2020 - 4:44PM
Business Wire
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the
“Company” or “Medalist”), a Virginia-based real estate investment
trust that specializes in acquiring, owning and managing value-add
commercial real estate in the Southeast region of the U.S., today
announced that it has extended its rental agreement with Clemson
University for the Company’s Clemson Best Western Plus property.
Under the terms of the agreement, the university has agreed to
extend its rental contract for the entire 148-room Clemson Best
Western Plus property through May 5, 2021.
“We are very pleased to continue our relationship with Clemson
University,” stated Thomas E. Messier, Chairman and Chief Executive
Officer of Medalist. “While many in our industry continue to
struggle from the impact of COVID-19, our focus on secondary and
tertiary markets in the southeast, combined with mutually
beneficial agreements such as this contract with Clemson, have
enabled us to continue to outperform many of our peers, placing us
in a great position to further expand our portfolio in 2021 and
beyond.”
About Medalist Diversified REIT
Medalist Diversified REIT Inc. is a Virginia-based real estate
investment trust that specializes in acquiring, owning and managing
value-add commercial real estate in the Mid-Atlantic and Southeast
regions. The Company’s strategy is to focus on value-add and
opportunistic commercial real estate which is expected to provide
an attractive balance of risk and returns. Medalist utilizes a
rigorous, consistent and replicable process for sourcing and
conducting due diligence of acquisitions. The Company seeks to
maximize operating performance of current properties by utilizing a
hands-on approach to property management while monitoring the
middle market real estate markets in the southeast for acquisition
opportunities and disposal of properties as considered appropriate.
For more information on Medalist, please visit the Company website
at https://www.medalistreit.com.
Forward Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. Forward
looking statements are statements that are not historical,
including statements regarding management’s intentions, beliefs,
expectations, representations, plans or predictions of the future,
and are typically identified by such words as “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “may,” “will,” “should” and
“could.” Because such statements include risks, uncertainties and
contingencies, actual results may differ materially from those
expressed or implied by such forward looking statements. These
forward-looking statements are based upon the Company’s present
expectations, but these statements are not guaranteed to occur,
including, without limitation, with respect to the completion of
the proposed public offering on the terms described or at all.
Furthermore, the Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes. Investors should not place
undue reliance upon forward-looking statements. For further
discussion of the factors that could affect outcomes, please refer
to the “Risk Factors” section of the prospectus dated February 13,
2020, and in the Company’s subsequent annual and periodic reports
and other documents filed with the SEC, copies of which are
available on the SEC’s website, www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20201215006125/en/
Dave Gentry, CEO RedChip Companies Inc. 407-491-4498
dave@redchip.com
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