Broad Street Realty, Inc. (BRST): M&A transaction — Broad Street Realty sells Spotswood Valley Square Shopping Center for $23.0M cash

Broad Street Realty, Inc.

Sold 190,646 sq ft retail shopping center in Harrisonburg, VA for $23.0M cash on June 30, 2023.
Proceeds repaid $14.1M of mortgage debt; net cash of $8.3M added to balance sheet.
Pro forma nonrecurring gain on disposition of $11.7M recognized.
Pro forma net loss per share for FY2022 improves from $(0.47) to $(0.45) after removing Spotswood operations.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Broad Street Realty, Inc. completed a disposition for $23.0 million in cash (closed 2023-06-30).

Action: disposition
Consideration: $23.0 million in cash
Closing: 2023-06-30

Exact text from the filing

On June 30, 2023, a subsidiary of Broad Street Realty, Inc. (the “Company”) completed the sale of Spotswood Valley Square Shopping Center, a retail shopping center located in Harrisonburg, Virginia with approximately 190,646 square feet of gross leasable area, for a purchase price of $23.0 million in cash (the “Spotswood Disposition”).

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Broad Street Realty, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-032131

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