---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-024519"
form_type: "8-K"
ticker: null
cik: "0001515816"
company_name: "Plymouth Industrial REIT, Inc."
filed_at: "2026-01-27T23:59:59+00:00"
generated_at: "2026-05-16T07:30:50.525387+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Makarora & Ares complete $2.1B all-cash acquisition of Plymouth Industrial REIT; $22.00/share

## Summary
- Total transaction value ~$2.1B; shareholders to receive $22.00 per share in cash.
- Plymouth common stock will be delisted from NYSE; trading suspended Jan. 28, 2026.
- All outstanding debt under November 2024 credit agreement repaid and terminated.
- Board of directors and officers (Witherell, Saladino, Connolly) resigned upon closing.
- Makarora/Ares now control; company survives as PIR Industrial REIT LLC.

## SEC filing metadata
- accession: 0001193125-26-024519
- form_type: 8-K
- cik: 0001515816
- company_name: Plymouth Industrial REIT, Inc.
- filed_at: 2026-01-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1515816/000119312526024519/0001193125-26-024519-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1515816/000119312526024519/plym-20260127.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-024519
- JSON: https://secwatch.observer/filing/0001193125-26-024519.json
- Plain text: https://secwatch.observer/filing/0001193125-26-024519.txt

## Source-grounded claims
- claim_id: 4bd2a9e32c7fd80bd12776c82d3b8e33bd55b662
  claim: Plymouth Industrial REIT, Inc.: Certificate of formation and LLC operating agreement of REIT Merger Sub became governing documents of REIT Surviving Entity at REIT Merger Effective Time.
  evidence_excerpt: By operation of law and in accordance with the Merger Agreement, as of the REIT Merger Effective Time, the certificate of formation and limited liability company operating agreement of REIT Merger Sub, as in effect immediately prior to the REIT Merger Effective Time, became the certificate of formation and limited liability company operating agreement of the REIT Surviving Entity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1515816/000119312526024519/0001193125-26-024519-index.htm
- claim_id: 5b658932b1b1d4d012a0dca17a52d55e07392b93
  claim: Plymouth Industrial REIT, Inc. underwent a change of control involving Makarora Management LP (together with Ares Alternative Credit funds) for $22.00 per share in cash (closed 2026-01-27).
  evidence_excerpt: share, of the Company (the “Company Common Stock”) then outstanding was cancelled and retired and automatically converted into the right to receive an amount in cash equal to $22.00 (the “REIT Merger Consideration”), without interest (subject to any applicable withholding taxes); • each share of restricted Company Common Stock granted pursuant to the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1515816/000119312526024519/0001193125-26-024519-index.htm
- claim_id: 003bee49aa42deb193c0a13369d02b56738d3edf
  claim: Plymouth Industrial REIT, Inc. terminated Third Amended and Restated Credit Agreement with KeyBank National Association valued at repaid in full.
  evidence_excerpt: Effective as of the Closing Date, all outstanding amounts under that certain Third Amended and Restated Credit Agreement, dated as of November 6, 2024, by and among the Operating Partnership, the guarantors from time to time party thereto, KeyBank National Association and the other lenders party thereto and as amended, restated or modified prior to the date hereof, were repaid in full, all outstanding obligations and commitments thereunder were terminated and all related security interests and liens were released.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1515816/000119312526024519/0001193125-26-024519-index.htm

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