Plymouth Industrial REIT Announces Strategic Partnership with Sixth Street
Plymouth Industrial REIT, Inc. (PLYM)
NASDAQ:AMEX Investor Relations:
ir.plymouthreit.com
Company Research
Source: GlobeNewswire
Highlights: The transaction provides Plymouth with approximately $500 million of capital to pursue acquisitionsSixth Street intends to be a strategic partner in pursuing additional joint venture opportunities with Plymouth in both new and existing industrial marketsSixth Street to provide a total of $250 million of capital in the form of a 65% joint venture ownership of Plymouth’s Chicago portfolio and a non-convertible preferred equity investment into the Operating PartnershipPlymouth will contribute its Chicago-area properties to the joint venture with Sixth Street at a 6.2% capitalization rate for a total gross asset value of approximately $356 million and will retain 35% ownership of the approximately 5.9 million-square-foot portfolioThe transaction is leverage-neutral with overall leverage expected to decline sequentially in the fourth quarter after closing of the joint venture and remain in line with Plymouth’s stated leverage targets for 2024Plymouth affirmed its previously is
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PLYM
News
- Plymouth Industrial REIT Provides Activity Update for Third Quarter 2024GlobeNewswire
- Plymouth Industrial REIT Declares Dividend for the Third Quarter of 2024GlobeNewswire
- Does A New Deal Mean This Small Industrial REIT Is Poised For Growth? [Yahoo! Finance]Yahoo! Finance
- Plymouth Industrial REIT, Inc. (NYSE: PLYM) had its price target raised by analysts at Truist Financial Co. from $26.00 to $27.00. They now have a "buy" rating on the stock.MarketBeat
- Plymouth Industrial REIT, Inc. (NYSE: PLYM) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $27.00 price target on the stock.MarketBeat
PLYM
Earnings
- 7/31/24 - Beat
PLYM
Sec Filings
- 9/16/24 - Form 8-K
- 9/10/24 - Form SCHEDULE
- 9/5/24 - Form SC
- PLYM's page on the SEC website