ILPT closes MNR acquisition for $3.734B; pro forma net loss $41.4M

Industrial Logistics Properties Trust

Total purchase price estimated at $3.734 billion, including $323M mortgage debt assumption and $885M debt repaid.
Funded via $1.4B floating-rate CMBS loan, $1.385B bridge loan, $700M fixed-rate CMBS loan, and $587M from selling 39% JV interest.
Pro forma for year ended Dec 31, 2021: net loss attributable to common shareholders of $41.4M vs ILPT historical net income of $119.7M.
30 MNR properties (~4.9M sq ft) classified as held for sale; proceeds expected to repay bridge loan.

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