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The InterGroup Corporation Announces Sale of Non-Core 12-Unit Apartment Property; Strengthens Liquidity and Highlights Between Historical-Cost GAAP and Realizable Values
Los Angeles, California, Jan. 06, 2026 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: IN...
About this update from Integral Metals Corp.
[{"type":"text","content":"The InterGroup Corporation Announces Sale of Non-Core 12-Unit Apartment Property; Strengthens Liquidity and Highlights Between Historical-Cost GAAP and Realizable Values\nLos Angeles, California, Jan. 06, 2026 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: INTG) (the “Company” or “InterGroup”) announced today that on December 29, 2025, it completed the sale of a non-core 12-unit apartment complex in Los Angeles County for a gross sales price of approximately $4,850,000. InterGroup expects to report a GAAP net gain on sale of approximately $3,509,000, which will be reflected in the Company’s Form 10‑Q for the quarter ended December 31, 2025. The transaction is expected to result in federal and state income tax liability, the amount of which will be determined based on the Company’s final tax position and applicable tax rules. Transaction highlights Gross sales price: approximately $4,850,000Debt repaid at closing: approximately $1,859,000Net cash proceeds: approximately $2,577,000 (after repayment of debt and customary closing adjustments and transaction costs)Estimated GAAP net gain on sale: approximately $3,509,000 Additional clarification: Net cash proceeds reflect debt repayment and customary settlement items at closing, while the GAAP gain is calculated based on the net consideration received less the property’s carrying value and applicable costs to sell, in accordance with U.S. GAAP. Management commentary David C. Gonzalez, Chief Operating Officer of InterGroup, said:“Selling this small, non-core asset in the normal course of business is consistent with our approach of actively managing the portfolio and enhancing liquidity. The transaction provides additional working capital and allows us to continue prioritizing our core holdings and operating initiatives.” John V. Winfield, Chairman and Chief Executive Officer of InterGroup, added:“This transaction reinforces management’s long-held view that historical-cost accounting for real estate under GAAP can differ materially from realizable values. The gain realized on this sale is one example of that potential difference and supports our belief that there may be intrinsic value in our real estate portfolio that is not fully reflected in the Company’s GAAP financial statements.&#x...