Agree Realty to reduce revolving facility via common stock proceeds

By Tali Rackner

Norfolk, Va., Dec. 3 – Agree Realty Corp. plans to use the net proceeds from a common stock offering to reduce amounts outstanding under its revolving credit facility, according to a press release.

Proceeds will also be used to fund property acquisitions and development activity in addition to general corporate purposes.

Agree is a real estate investment trust located in Farmington Hills, Mich.

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