Sachem Capital Q1 net loss $7.2M ($0.15/sh); IRG deal to form $3.4B industrial REIT

Sachem Capital Corp.

2026-Q1 EPS reported -$0.15

Net loss attributable to common shareholders was $7.2M, or $0.15 per share, vs. net loss of $0.2M in Q1 2025.
Provision for credit losses surged to $5.4M from $1.1M YoY, including a $3.9M non-cash fair value adjustment on loan restructuring.
Net interest income was $3.6M, down marginally from $3.7M; net interest margin was 3.9% vs. 4.0% in prior year.
Book value per common share fell to $2.25 from $2.46 at year-end, impacted by the credit loss charge and $1.6M in transaction expenses.
On May 18, announced contribution agreement with IRG to contribute 98 industrial properties with $2.9B gross value; combined company IRG Realty Trust targeted enterprise value ~$3.4B.

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