Broad Street Realty, Inc. (BRST): M&A transaction — Broad Street Realty completes two property sales for $46.1M total cash; debt of $31.6M repaid

Broad Street Realty, Inc.

Sold Dekalb Plaza (Philadelphia, 178,356 sq ft) for $23.1M cash and Spotswood Valley Square (VA, 190,646 sq ft) for $23.0M cash.
Combined net proceeds of ~$12.9M added to cash after $31.6M debt repayment and ~$1.9M closing costs.
Pro forma net loss attributable to common stockholders improves from $15.3M to $13.8M for FY2022 on reduced depreciation and interest.
Pro forma total assets reduced by ~$24M to $370.1M as of March 31, 2023.

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 the Company completed the sale of Spotswood Valley Square Shopping Center (together with Dekalb Plaza, the “Disposed Properties”), 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 (together with the Dekalb Disposition, the “Property Dispositions”).

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

Broad Street Realty, Inc. completed a disposition for $23.1 million in cash (closed 2023-07-20).

Action: disposition
Consideration: $23.1 million in cash
Closing: 2023-07-20

Exact text from the filing

On July 20, 2023, a subsidiary of Broad Street Realty, Inc. (the “Company”) completed the sale of Dekalb Plaza, a retail shopping center located in Philadelphia, Pennsylvania with approximately 178,356 square feet of gross leasable area, for a purchase price of $23.1 million in cash (the “Dekalb Disposition”).

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15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Broad Street Realty, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-034437

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