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 15, 2015. The filing reports the closing of a real estate acquisition transaction previously announced in June 2015.
Key Financial Metrics
The filing details a specific capital expenditure event rather than periodic financial performance metrics.
- Acquisition Price: $6,075,000
- Asset Acquired: Parkway Plaza, a retail shopping center located in Brunswick, Georgia.
- Acquisition Date: September 15, 2015
- Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these metrics as this is a transaction report, not a periodic financial statement.
Material Changes
The material change reported is the successful closing of the purchase agreement for Parkway Plaza. The transaction was executed by WHLR-Parkway Plaza, LLC, a wholly-owned subsidiary of Wheeler REIT, L.P. The sellers were FR Brunswick I, LLC and FR Brunswick II, LLC. No director, officer, or affiliate of the Registrant is affiliated with the sellers.
Outlook, Risks, and Contingencies
The Registrant is required to file requisite financial information for the acquired Parkway Plaza 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 the text of this filing beyond standard acquisition disclosures.
Key Facts for Investor Verification
- Verify the financial performance of Parkway Plaza once the required financial statements are filed within 71 days.
- Confirm the funding source for the $6,075,000 acquisition in subsequent periodic reports (10-Q or 10-K).
- Review the press release (Exhibit 99.1) for additional details on the property's characteristics and strategic fit.