secwatch.observer — SEC 8-K summary
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Issuer:     BGO Industrial Real Estate Income Trust, Inc. (—)
CIK:        0001942722
Form:       8-K
Filed at:   2023-07-13T23:59:59+00:00
Accession:  0001104659-23-080754
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BGO Industrial acquires 56.5% interest in $948M industrial portfolio from Sun Life for $130M in OP units
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- Sun Life contributed its 56.5% interest in a joint venture owning 29 industrial buildings (9.4M sq ft) in St. Louis, Cincinnati, Kansas City, and Kenosha.
- Consideration: 13,000,000 Class E units of the Operating Partnership at $10.00/unit, total $130M, representing Sun Life's capital contributions.
- Portfolio financed with $560.4M senior loan at 4.0% interest (60% LTV), with 4- and 5-year tranches; occupied rate 90% as of April 30, 2023.
- Class E units subject to lock-up: cannot be repurchased until NAV reaches $1.5B or July 7, 2026; thereafter limited to 25% of monthly net inflows.
- Following acquisition, the trust's effective ownership in the underlying portfolio is 34.2%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1942722/000110465923080754/0001104659-23-080754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1942722/000110465923080754/tm2321157d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-080754

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