FRPH acquires Altman Logistics for $33.5M, gaining industrial pipeline and team

FRP HOLDINGS, INC.

Purchase price $33.5M; net cash outlay $23.6M after $10M reimbursement for assigned bank account.
Adds seasoned industrial development team and pipeline of 1.29M SF in FL and NJ markets.
Acquires 100% ownership of Lakeland and Davie projects (was 10% and 20% minority).
Deal includes minority GP interests in five operating assets and land contract in Southwest Ranches.
Management expects to double NOI over five years toward $1B valuation upon pipeline stabilization.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.