---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-025554"
form_type: "8-K"
ticker: "MDRR"
cik: "0001654595"
company_name: "Medalist Diversified, Inc."
filed_at: "2024-02-20T23:59:59+00:00"
generated_at: "2026-06-05T23:11:13.680112+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Medalist Diversified REIT agrees to buy Chicago property for $2.4M in related-party deal

## Summary
- Purchase price $2.4M for 3535 N. Central Ave, Chicago; paid in OP units at $5.75/unit plus cash for seller's costs.
- Seller is entity controlled by CEO Frank Kavanaugh; related party transaction.
- Also buying 16% TIC interest in Hanover Outparcel for $98,410.94 from tenant-in-common partner.
- Separate OP unit purchase: 11,731.25 OP units for $61,589.06 from Peter Mueller, Inc.
- Closings subject to customary conditions; no assurance deals will close.

## SEC filing metadata
- accession: 0001104659-24-025554
- form_type: 8-K
- ticker: MDRR
- cik: 0001654595
- company_name: Medalist Diversified, Inc.
- filed_at: 2024-02-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/0001104659-24-025554-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/tm246743d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-025554
- JSON: https://secwatch.observer/filing/0001104659-24-025554.json
- Plain text: https://secwatch.observer/filing/0001104659-24-025554.txt

## Key facts
- Material Agreements
  Medalist Diversified, Inc. entered into OP Unit Purchase Agreement with Peter Mueller, Inc. valued at $61,589.06 (effective 2024-02-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Peter Mueller, Inc.
  - Value: $61,589.06
  - Effective: 2024-02-16
  source text: Also, on February 16, 2024 (the “Effective Date”), the Company entered into OP Unit Purchase Agreement (the “OP UPA”), a copy of which is filed hereto as Exhibit 10.3, with Peter Mueller, Inc., a Virginia corporation (“OP Unit Seller”), whereby the Company agreed to purchase OP Unit Seller’s 11,731.25 Operating Partnership Units (the “OP Units”) in Medalist Diversified Holdings, LP, a Delaware limited partnership (the “MDH LP”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/0001104659-24-025554-index.htm
- Material Agreements
  Medalist Diversified, Inc. entered into Purchase and Sale Agreement with PMI Hanover SQ, LLC valued at $98,410.94 (effective 2024-02-16).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: PMI Hanover SQ, LLC
  - Value: $98,410.94
  - Effective: 2024-02-16
  source text: On February 16, 2024, MDR Hanover Square, LLC, a Delaware limited liability company (“Buyer”), a wholly owned subsidiary of the Company, entered into a Purchase and Sale Agreement (the “Outparcel PSA”), a copy of which is filed hereto as Exhibit 10.2, with the Company’s tenant-in-common partner, PMI Hanover SQ, LLC, a Delaware limited liability company (“Seller”), whereby Buyer agreed to purchase Seller’s 16% tenant-in-common interest in that certain tract of real property identified as tax parcel number 8714-63-9931 and more particularly described in Exhibit “A” to the Outparcel PSA (the “Hanover Outparcel Property”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/0001104659-24-025554-index.htm
- Material Agreements
  Medalist Diversified, Inc. entered into Purchase and Sale Agreement with RMP N. Central Ave., LLC valued at $2,400,000.00 (effective 2024-02-15).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: RMP N. Central Ave., LLC
  - Value: $2,400,000.00
  - Effective: 2024-02-15
  source text: On February 15, 2024 (the “Effective Date”), Medalist Diversified REIT, Inc. (the “Company”), entered into a Purchase and Sale Agreement (the “N. Central Ave. PSA”), a copy of which is filed hereto as Exhibit 10.1, with RMP N. Central Ave., LLC, a Delaware limited liability company (“Seller”), whereby the Company agreed to purchase that certain tract of real property identified as containing building with a physical address of 3535 North Central Avenue, Chicago, IL 60634, and more particularly described in Exhibit “A” to the N. Central Ave. PSA (the “N. Central Ave. Property”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/0001104659-24-025554-index.htm

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