---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-004253"
form_type: "8-K"
ticker: "MDRR"
cik: "0001654595"
company_name: "Medalist Diversified, Inc."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T06:14:05.337965+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Medalist Diversified REIT acquires Chicago property for $2.4M via OP Units in related-party deal

## Summary
- Acquired 3535 N Central Ave, Chicago for $2.4M, paying 417,391 OP Units valued at $5.75/unit + $15K cash for seller costs.
- OP Unit value reflects an 8.5% premium over MDRR common stock closing price of $5.30 on Feb 15, 2024.
- Seller is controlled by CEO Frank Kavanaugh, making this a related-party transaction requiring shareholder approval for stock redemption.
- OP Units may be redeemed for cash or common stock one-for-one; stock redemption requires majority stockholder vote.
- Historical financials and pro forma data for the property will be filed by June 8, 2024.

## SEC filing metadata
- accession: 0001558370-24-004253
- form_type: 8-K
- ticker: MDRR
- cik: 0001654595
- company_name: Medalist Diversified, Inc.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1654595/000155837024004253/0001558370-24-004253-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1654595/000155837024004253/mdrr-20240328x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-004253
- JSON: https://secwatch.observer/filing/0001558370-24-004253.json
- Plain text: https://secwatch.observer/filing/0001558370-24-004253.txt

## Key facts
- M&A Transactions
  Medalist Diversified, Inc. completed an acquisition involving RMP 3535 N. Central Ave., LLC for purchase price of $2,400,000 (closed 2024-03-28).
  - Action: acquisition
  - Counterparty: RMP 3535 N. Central Ave., LLC
  - Consideration: purchase price of $2,400,000
  - Closing: 2024-03-28
  source text: On March 28, 2024, MDR Central Avenue, LLC, a wholly owned subsidiary of Medalist Diversified Holdings, LP, a Maryland limited partnership and the operating partnership (the “Operating Partnership”) of Medalist Diversified REIT, Inc. (the “Company”), closed on the acquisition of that certain tract of real property containing a building with a physical address of 3535 North Central Avenue, Chicago, IL 60634 (the “Central Avenue Property”) from RMP 3535 N. Central Ave., LLC, a Delaware limited liability company (“Seller”) , for a purchase price of $2,400,000, exclusive of closing costs
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654595/000155837024004253/0001558370-24-004253-index.htm

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