Star Equity enters two sale-leaseback deals for $8.9M total; properties in Maine and Minnesota

STAR EQUITY HOLDINGS, INC.

Sold Maine property (300 Park Street) for $6.1M to MAG Capital Partners Acquisition LLC.
Sold Minnesota property (791 Rose Drive) for $2.8M to HJ Development L.L.P.
Both properties leased back for 20 years under triple net leases; operations continue via subsidiaries.
Closings expected Q2 2024, subject to financing and due diligence conditions.
Net proceeds reduced by commissions and expenses; leases include security deposits and Star Equity guaranty.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

STAR EQUITY HOLDINGS, INC. entered into Purchase and Sale Agreement with MAG Capital Partners Acquisition LLC valued at $6.1 million (effective 2024-05-06).

Action: entry
Agreement: asset purchase
Counterparty: MAG Capital Partners Acquisition LLC
Value: $6.1 million
Effective: 2024-05-06

Exact text from the filing

On May 6, 2024, 300 Park Street LLC (“300 Park Seller”), a wholly-owned subsidiary of Star Equity Holdings, Inc., (the “Company”), entered into a Purchase and Sale Agreement (the “300 Park Purchase Agreement”) with MAG Capital Partners Acquisition LLC (the “300 Park Buyer”), an unaffiliated third party, pursuant to which the parties agreed to consummate a sale and leaseback transaction (the “300 Park Sale and Leaseback Transaction”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

STAR EQUITY HOLDINGS, INC. entered into Commercial Purchase Agreement with HJ Development L.L.P. valued at $2.8 million (effective 2024-05-06).

Action: entry
Agreement: asset purchase
Counterparty: HJ Development L.L.P.
Value: $2.8 million
Effective: 2024-05-06

Exact text from the filing

On May 6, 2024, 791 Rose Drive, LLC (“791 Rose Seller”), a wholly-owned subsidiary of the Company entered into a Commercial Purchase Agreement (the “791 Rose Purchase Agreement”) with HJ Development L.L.P. (the “791 Rose Buyer”), an unaffiliated third party, pursuant to which the parties agreed to consummate a sale and leaseback transaction (the “791 Rose Sale and Leaseback Transaction”).

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292 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0000707388-24-000032

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