Wheeler Real Estate Investment Trust, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed on July 21, 2015, by Wheeler Real Estate Investment Trust, Inc. (Wheeler REIT). The report details the closing of a real estate acquisition transaction previously announced in May 2015.
Key Financial Metrics
The filing reports the acquisition of a retail shopping center known as Sunshine Plaza in Lehigh Acres, Florida. The transaction closed on July 21, 2015, for a total purchase price of $10,350,000. 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 addition of the Sunshine Plaza asset to the company's portfolio. The acquisition was executed by WHLR-Sunshine Shopping Plaza, LLC, a wholly-owned subsidiary of Wheeler REIT, L.P. The seller, CRP-II Sunshine Plaza, LLC, is not affiliated with any director, officer, or affiliate of the Registrant.
Outlook, Risks, and Unusual Items
Management has announced the completion of the acquisition via a press release filed as Exhibit 99.1. The filing notes that pro forma financial information is not applicable. Regarding financial statements for the acquired business, the Registrant is required to file requisite financial information no later than 71 calendar days after the initial filing of this report. No specific risks or contingencies related to the transaction are detailed in this text.
Key Facts for Investor Verification
- Acquisition of Sunshine Plaza in Lehigh Acres, Florida, closed on July 21, 2015.
- Total purchase price was $10,350,000.
- Financial statements for the acquired property are pending and due within 71 days of this filing.
- No affiliation exists between the Registrant and the Seller.
- Pro forma financial information was not provided in this filing.