Business Context and Reporting Period
Company: Wheeler Real Estate Investment Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 10, 2014
Event: Entry into a Purchase and Sale Agreement to acquire real property.
Key Financial Metrics
This filing reports a specific transaction rather than periodic financial performance. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
- Transaction Price: $9,750,000
- Asset Acquired: Crockett Square (507 South Davy Crockett Parkway, Morristown, Tennessee)
- Acquiring Entity: WHLR-Crockett Square, LLC (a wholly-owned subsidiary of Wheeler REIT, L.P.)
- Seller: RPAI Morristown Crockett, L.L.C.
Material Changes
The material change reported is the execution of a contract to purchase the Crockett Square property. No prior comparable period financial data is included in this filing to assess changes in operating metrics.
Guidance, Outlook, and Risks
Management Commentary: The acquisition was announced via press release on October 14, 2014. Jon Wheeler, Chairman and CEO, is the managing member of the acquiring subsidiary.
Related Party Transactions: No director, officer, or affiliate of the Registrant is affiliated with the Seller.
Financial Statements: The filing states that financial statements of the business acquired and pro forma financial information are not applicable.
Investor Verification Checklist
- Verify the closing date and final purchase price of the Crockett Square acquisition.
- Confirm the funding source for the $9,750,000 transaction (debt vs. equity vs. cash on hand).
- Review the full Purchase and Sale Agreement (Exhibit 10.1) for contingencies or conditions precedent to closing.
- Assess the impact of this acquisition on the company's overall portfolio and leverage ratios in subsequent periodic reports (10-Q/10-K).