Medalist REIT Files 8-K on Asset Deal
Ticker: MDRR · Form: 8-K · Filed: Mar 26, 2024 · CIK: 1654595
| Field | Detail |
|---|---|
| Company | Medalist Diversified Reit, Inc. (MDRR) |
| Form Type | 8-K |
| Filed Date | Mar 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $98,410.94 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, disposition, material-agreement
Related Tickers: MDDR
TL;DR
Medalist REIT (MDDR) filed an 8-K on 3/25 for an asset deal.
AI Summary
On March 25, 2024, Medalist Diversified REIT, Inc. entered into a material definitive agreement related to the completion of an acquisition or disposition of assets. The filing does not specify the nature of the agreement or any associated dollar amounts.
Why It Matters
This filing indicates a significant corporate action involving asset acquisition or disposition, which could impact the company's future operations and financial performance.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement for asset acquisition or disposition, which inherently carries business and financial risks.
Key Players & Entities
- Medalist Diversified REIT, Inc. (company) — Registrant
- March 25, 2024 (date) — Date of earliest event reported
FAQ
What specific assets were acquired or disposed of by Medalist Diversified REIT, Inc.?
The filing does not specify the nature of the assets involved in the acquisition or disposition.
What was the dollar amount of the transaction mentioned in the 8-K filing?
The filing does not disclose any specific dollar amounts related to the transaction.
Who are the parties involved in the material definitive agreement?
The filing does not name the other parties to the material definitive agreement.
When was the material definitive agreement entered into?
The earliest event reported in the filing occurred on March 25, 2024, indicating the agreement was entered into on or before this date.
What is the significance of the 'Completion of Acquisition or Disposition of Assets' item information?
This indicates that the company has finalized a transaction involving the purchase or sale of assets.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-03-26 16:18:22
Key Financial Figures
- $0.01 — ed Trading Symbol(s) Common Stock, $0.01 par value Nasdaq Capital Market MDR
- $98,410.94 — parcel Property for a purchase price of $98,410.94. In connection with the acquisition, Bu
Filing Documents
- mdrr-20240325x8k.htm (8-K) — 41KB
- 0001558370-24-003951.txt ( ) — 192KB
- mdrr-20240325.xsd (EX-101.SCH) — 4KB
- mdrr-20240325_def.xml (EX-101.DEF) — 14KB
- mdrr-20240325_lab.xml (EX-101.LAB) — 19KB
- mdrr-20240325_pre.xml (EX-101.PRE) — 13KB
- mdrr-20240325x8k_htm.xml (XML) — 7KB
01
ITEM 1.01 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT The information disclosed under Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference. .
01
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS On February 20, 2024, Medalist Diversified REIT, Inc. (the "Company"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced that MDR Hanover Square, LLC ("Buyer"), a wholly owned subsidiary of Medalist Diversified Holdings, LP, the operating partnership of the Company, had entered into a Purchase and Sale Agreement (the "Agreement"), a copy of which was filed as Exhibit 10.2 to the Company's Current Report on Form 8-K filed on February 20, 2024, with Buyer's tenant-in-common partner, PMI Hanover SQ, LLC, a Delaware limited liability company ("Seller"), whereby Buyer agreed to purchase Seller's 16% tenant-in-common interest in that certain tract of real property identified as tax parcel number 8714-63-9931 and more particularly described in Exhibit "A" to the Agreement (the "Hanover Outparcel Property"). On March 25, 2024, Buyer completed the acquisition of the 16% tenant-in-common interest in the Hanover Outparcel Property for a purchase price of $98,410.94. In connection with the acquisition, Buyer and Seller also mutually agreed to terminate that certain Tenants-in-Common Agreement between Buyer and Seller, dated as of May 8, 2018. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MEDALIST DIVERSIFIED REIT, INC. Dated: March 26, 2024 By: /s/ C. Brent Winn, Jr. C. Brent Winn, Jr. Chief Financial Officer