MRV concludes sale of venture in US for $57 mm

MRV reported that it completed the sale of the Deering Groves development in Miami with a general sale value (GV) of $57 million. The asset is expected to generate cash of $21 million, based on projected operating profit after 12 months of stabilisation. This is the first sale of a venture of MRV’s US subsidiary, AHS Residential.

Source: UOL Economia