Modiv Industrial abandons nine-figure JV acquisition of 20+ manufacturing properties

MODIV INDUSTRIAL, INC.

Negotiations ended over time-horizon mismatch on ROFO; purchase price was nine-figure at accretive cap rate.
CEO Halfacre states decision avoids unnecessary risk and protects shareholder value; deal would have used cash and stock.
Another potential deal ('English shore' battleship) remains possible; no further play-by-play updates.
Q3 2024 results to be released Nov. 6, 2024; conference call scheduled for 11 a.m. ET.

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