Business Context and Reporting Period
Medalist Diversified REIT, Inc. (MDRR), an emerging growth company incorporated in Maryland, filed this Form 8-K on October 3, 2019. The report details a specific asset acquisition event rather than a standard periodic financial review.
Key Financial Metrics
This filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity metrics for the Company. The only specific financial data disclosed relates to the transaction:
- Acquisition Price: $6,700,000 (exclusive of closing costs).
- Asset Size: Approximately 66,000 square feet.
- Asset Type: Flex-industrial property.
Material Changes
On October 3, 2019, the Company, through its operating partnership Medalist Diversified Holdings, L.P., completed the acquisition of the Brookfield Center in Greenville, South Carolina. The property was purchased from unaffiliated sellers Appian-Brookfield South 48, LLC and Appian-Brookfield TIC, LLC.
Guidance, Outlook, and Contingencies
The filing does not contain management guidance, outlook, or risk commentary specific to the Company's overall operations. Regarding the acquisition, the Company noted that historical financial statements for the Brookfield Center and pro forma financial information will be filed in an amendment to this report on or before December 19, 2019.
Investor Verification Checklist
- Verify the final purchase price including any closing costs not disclosed in this summary.
- Review the upcoming amendment (due by December 19, 2019) for historical financial performance of the Brookfield Center.
- Examine the pro forma financial information to understand the impact of this acquisition on the Company's consolidated balance sheet and earnings.
- Confirm the financing structure used to fund the $6.7 million purchase.