M&A
confidence high
sentiment positive
materiality 0.60
Sculptor Diversified Real Estate Income Trust, Inc.: M&A transaction — Sculptor REIT completes $122M acquisition of Ohio distribution center, finances with $76.3M mortgage
Sculptor Diversified Real Estate Income Trust, Inc.
- Purchased a 1.28M sq ft distribution center on 81 acres in Marysville, OH for $122M (excluding costs).
- Property is 100% leased to a wholly owned subsidiary of a NYSE-listed lawn and garden care company.
- Funded acquisition with a $76.3M fixed-rate mortgage from USAA Life Insurance at 5.80% interest, interest-only, maturing Nov 2030.
- Mortgage is non-recourse to the company except for customary bad-boy carveouts and environmental indemnity.
- Prepayment permitted after 12 months with decreasing penalties; no prepayment fee in the fifth year.