Broad Street Realty, Inc. (BRST): debt financing — 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On April 8, 2025, Fortress rescinded a temporary waiver and removed Broad Street Operating Partnership as managing member of Eagles JV.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

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.6

Broad Street Realty, Inc. reported a default on loan.

Instrument: loan
Event: default

Exact text from the filing

The information under Item 8.01 regarding the event of default under the Mezzanine Loan Agreement and the Trigger Event is incorporated into this Item 2.04 by reference.

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41 debt financings filed in the last 30 days. Browse all debt financings →

Broad Street Realty, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-053293

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