secwatch.observer — SEC 8-K summary
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Issuer:     Broad Street Realty, Inc. (BRST)
CIK:        0000764897
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0000950170-23-007065
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broad Street Realty CEO update: acquired two properties in Q4, no dividend in 2023 due to rate headwinds
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- Q4 2022 closed on Lamar Station Plaza (98% leased, 187k sq ft) in CO and Midtown Row (240 student units, 64k sq ft retail) in VA.
- Midtown Row retail expected to add ~$2.5M ABR; residential ~$8.0M base rent in 2023; financed with $80M preferred equity + $15M mezzanine from Fortress and $76M mortgage from Blackstone.
- No dividend in 2023; CEO cites ~$95M senior loans maturing in 2023 requiring refinancing at higher rates and capital expenditure demands.
- Portfolio occupancy improved to 90.4% at year-end 2022 from 89.1% a year earlier; anchor space up to 96.3%.
- 2022 leasing: 45 renewals (298k sq ft) and 34 new leases (130k sq ft); overall rent spread +3.4%; notable new lease: AutoZone 52,706 sq ft at Cromwell Field.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764897/000095017023007065/0000950170-23-007065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764897/000095017023007065/brst-20230309.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-007065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer