Business Context and Reporting Period
This Form 8-K was filed by Wheeler Real Estate Investment Trust, Inc. on December 27, 2016, reporting events occurring on December 21, 2016. The filing details a strategic acquisition of a retail asset by the Registrant through its wholly-owned subsidiary, WHLR-Rivergate, LLC.
Key Financial Metrics
The filing discloses a specific transaction value but does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics for the period.
- Acquisition Price: $37,250,000
- Asset Acquired: Rivergate Shopping Center (retail shopping center in Macon, Georgia)
- Seller: Macon Station, LLC
- Pro Forma Financial Information: Not applicable
Material Changes
The primary material change is the expansion of the company's real estate portfolio through the acquisition of the Rivergate Shopping Center. The filing confirms that no director, officer, or affiliate of the Registrant is affiliated with the Seller, indicating an arm's length transaction.
Outlook, Risks, and Contingencies
The Registrant has committed to filing requisite financial information for the acquired Rivergate property no later than 71 calendar days after the initial filing of this report. No specific risks, contingencies, or management outlook regarding future performance were detailed in this specific filing beyond the completion of the acquisition.
Investor Verification Checklist
- Verify the financial performance and lease occupancy of Rivergate Shopping Center in the upcoming financial statement filing (due within 71 days).
- Review the press release (Exhibit 99.1) for additional details on the property's characteristics and strategic fit.
- Confirm the funding source for the $37.25 million acquisition in subsequent quarterly reports.