Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced that its stockholders have approved an all-cash acquisition of the company by entities affiliated with Makarora Management LP and Ares Alternative Credit Funds. The acquisition is valued at approximately $2.1 billion, including the assumption of certain outstanding debt.
In the most recent period, Plymouth Industrial REIT reported a net income of $5.8 million, compared to $4.2 million in the previous period, representing an increase of 38.1%. The company's total revenue also saw a significant increase, reaching $25.6 million in the most recent period, up from $19.3 million in the previous period, marking a 32.6% increase.
Additionally, Plymouth Industrial REIT's funds from operations (FFO) attributable to common stockholders and unitholders totaled $8.9 million in the most recent period, compared to $6.7 million in the previous period, showing a notable increase of 32.8%.
The company's net operating income (NOI) from real estate properties amounted to $14.3 million in the most recent period, reflecting a 31.8% increase from the previous period's NOI of $10.8 million.
Furthermore, Plymouth Industrial REIT's total assets stood at $959.6 million in the most recent period, compared to $748.2 million in the previous period, representing a significant increase of 28.3%.
The acquisition, subject to customary closing conditions, is expected to be completed on or about January 27, 2026. Plymouth Industrial REIT, Inc. is a real estate investment company focused on the acquisition, ownership, and management of single and multi-tenant industrial properties. The market has reacted to these announcements by moving the company's shares 0.0% to a price of $21.87. If you want to know more, read the company's complete 8-K report here.
