Fortress Net Lease REIT acquires 27 industrial properties for $132.5M from RelaDyne

Fortress Net Lease REIT

Purchase price of $132,520,000 for 27 industrial properties acquired from subsidiaries of RelaDyne, Inc.
Acquisition financed with proceeds from the Company's continuous private offering.
Properties located across 9 states: 15 in TX, 3 in PA, 2 each in FL and LA, 1 each in CA, GA, MD, MS, UT.
Upon closing, properties leased back to seller under an absolute triple net master lease.
Purchase Agreement contains customary representations, warranties, and indemnification provisions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fortress Net Lease REIT entered into Purchase Agreement with certain subsidiaries of RelaDyne, Inc. (the " Seller ") valued at aggregate purchase price of $132,520,000 (effective 2024-04-11).

Action: entry
Agreement: asset purchase
Counterparty: certain subsidiaries of RelaDyne, Inc. (the " Seller ")
Value: aggregate purchase price of $132,520,000
Effective: 2024-04-11

Exact text from the filing

a subsidiary of Fortress Net Lease REIT (the “ Company ”) entered into a purchase and sale agreement (the “ Purchase Agreement ”) with certain subsidiaries of RelaDyne, Inc. (the “ Seller ”), pursuant to which a subsidiary of the Company acquired a portfolio of 27 industrial properties from the Seller for an aggregate purchase price of $132,520,000

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Source: SEC EDGAR

accession 0001140361-24-020300

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