---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-053293"
form_type: "8-K"
ticker: "BRST"
cik: "0000764897"
company_name: "Broad Street Realty, Inc."
filed_at: "2025-04-11T23:59:59+00:00"
generated_at: "2026-05-23T16:42:04.707192+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- On April 8, 2025, Fortress rescinded a temporary waiver and removed Broad Street Operating Partnership as managing member of Eagles JV.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.

## SEC filing metadata
- accession: 0000950170-25-053293
- form_type: 8-K
- ticker: BRST
- cik: 0000764897
- company_name: Broad Street Realty, Inc.
- filed_at: 2025-04-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- confidence: high
- sec_items: 2.04, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764897/000095017025053293/0000950170-25-053293-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764897/000095017025053293/brst-20250408.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-053293
- JSON: https://secwatch.observer/filing/0000950170-25-053293.json
- Plain text: https://secwatch.observer/filing/0000950170-25-053293.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.