secwatch.observer — SEC 8-K summary
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Issuer:     Medalist Diversified, Inc. (MDRR)
CIK:        0001654595
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001104659-24-025554
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/0001104659-24-025554-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1654595/000110465924025554/tm246743d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-025554

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer