The InterGroup Corporation announced the sale of a non-core 12-unit apartment complex in Los Angeles County for approximately $4,850,000, enhancing liquidity.
The sale resulted in a GAAP net gain of approximately $3,509,000, to be reflected in the Form 10-Q for the quarter ended December 31, 2025.
The transaction highlights the gross sales price, debt repaid at closing, net cash proceeds, and estimated GAAP net gain.
Sale Details
Gross sales price: $4,850,000; Debt repaid: $1,859,000; Net cash proceeds: $2,577,000; Estimated GAAP net gain: $3,509,000.
Management Strategy
Active portfolio management and liquidity enhancement through non-core asset sales.
Accounting Reflection
Realization of potential differences between historical-cost accounting and realizable values.
- The sale provided additional working capital and supports the focus on core holdings.
- Management views the sale as illustrating the discrepancies between GAAP accounting and actual market values.
The InterGroup Corporation's strategic sale of the 12-unit apartment property reflects its commitment to managing assets efficiently and maximizing liquidity.