Fortress removes Broad Street Realty as managing member; $98.4M preferred and $16.9M loan in default

Broad Street Realty, Inc.

On April 8, 2025, Fortress rescinded a temporary waiver and removed Broad Street Operating Partnership as managing member of Eagles JV.
Outstanding preferred equity investment ~$98.4M; mezzanine loan balance $16.9M; both are now in default.
Fortress can require redemption at 1.40x minimum multiple on contributions plus a $10M exit fee.
All company properties are owned by Eagles JV subsidiaries; Fortress may now sell properties to redeem its interest.
Interest rates on preferred equity and mezzanine loan each automatically increased by the lesser of 4% or legal max.

item 2.04 item 8.01

Machine-readable event card

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form_type: 8-K
ticker: BRST
cik: 0000764897
company_name: Broad Street Realty, Inc.
filed_at: 2025-04-11T23:59:59+00:00
discovered_at: 2026-05-14T18:02:51.213215+00:00
generated_at: 2026-05-23T16:42:04.707192+00:00
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accession 0000950170-25-053293

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