Strategic Realty Trust, Inc.: M&A transaction — Strategic Realty Trust sells Hollywood property for $12.9M, repays $8.7M loan

Strategic Realty Trust, Inc.

Sold Sunset & Gardner property (Hollywood, CA) to Bedrock Properties Group for $12.9M cash, before closing costs and transaction fees.
Repaid $8.7M Lone Oak Fund loan secured by the property; net cash available after closing costs ~$3.7M.
Pro forma net loss for 9M 2022 improves from $8.9M to $5.5M after removing property's operations and impairment loss.
Pro forma total assets decline ~$9.9M to $53.2M; total equity declines ~$1.2M to $18.8M.
Disposition reduces debt by $8.7M and eliminates ongoing operating losses from the joint venture property.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Strategic Realty Trust, Inc. completed a disposition involving Bedrock Properties Group, LLC for $12.9 million in cash (closed 2022-12-21).

Action: disposition
Counterparty: Bedrock Properties Group, LLC
Consideration: $12.9 million in cash
Closing: 2022-12-21

Exact text from the filing

On December 21, 2022, the Company consummated the disposition of the Sunset & Gardner Joint Venture Property for $12.9 million in cash, before customary closing and transaction costs.

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Source: SEC EDGAR

accession 0001446371-22-000042

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