Wheeler Real Estate Investment Trust, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Wheeler Real Estate Investment Trust, Inc. on September 9, 2015. The report details the closing of a real estate acquisition transaction previously announced in June 2015.
Key Financial Metrics
The filing reports the acquisition of the Grove Park Shopping Center in Orangeburg, South Carolina, for a total purchase price of $6,600,000. The transaction was executed by WHLR-Grove Park, LLC, a wholly-owned subsidiary of Wheeler REIT, L.P. The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity metrics for the period, as it focuses solely on the transaction event.
Material Changes
The primary material change is the successful closing of the acquisition of the Grove Park Shopping Center on September 9, 2015. The Registrant confirmed that no director, officer, or affiliate of the Registrant is affiliated with the Seller, Grove Park Property, LLC.
Outlook, Risks, and Contingencies
The Registrant is required to file financial statements for the acquired business no later than 71 calendar days after the initial filing of this report. Pro forma financial information is not applicable for this transaction. No specific risks or contingencies were detailed in this filing beyond the standard requirement to provide future financial data for the acquired asset.
Investor Verification Checklist
- Verify the final purchase price of $6,600,000 for the Grove Park Shopping Center.
- Confirm the closing date of September 9, 2015.
- Review the upcoming financial statements for the acquired property, due within 71 days of this filing.
- Check the press release filed as Exhibit 99.1 for additional management commentary on the acquisition.