FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. 8-K

What Happened

• First Real Estate Investment Trust of New Jersey, Inc. (FREIT) announced it completed the sale of 100% of its ownership interests in the Franklin Crossing shopping center (Franklin Lakes, NJ). FREIT signed the Purchase and Sale Agreement on April 8, 2026 with an affiliate of Regency Centers Corporation and the sale was consummated on July 8, 2026.
• The agreed purchase price was $27,000,000. FREIT reported net proceeds of approximately $25,400,000 from the closing and a net gain on the sale of approximately $19,500,000. The company issued a press release dated July 9, 2026 reporting the transaction.

Key Details

• Purchase and Sale Agreement signed: April 8, 2026
• Closing date: July 8, 2026
• Gross sale price: $27,000,000
• Net proceeds to FREIT: ≈ $25,400,000; reported net gain: ≈ $19,500,000
• Buyer: an affiliate of Regency Centers Corporation

Why It Matters

• This disposition converts a physical asset into cash and produced a sizable one-time gain (~$19.5M), which will affect FREIT’s reported results and balance sheet items for the period in which the gain is recognized.
• The ~ $25.4M in net proceeds increases the company’s liquidity and reduces its property holdings exposure; investors should watch subsequent filings (10-Q/10-K) for how proceeds are used and any impact on distributions, portfolio strategy, or future earnings.
• The filing also includes standard forward-looking statement caution noting actual results may differ due to market and economic conditions and other factors.