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INDUS Realty Trust (NASDAQ: INDT) announced the filing of its preliminary proxy statement regarding a definitive merger agreement with Centerbridge Partners and GIC, valuing the transaction at about $868 million. The merger will allow all outstanding shares of the company to be acquired in an all-cash deal. Centerbridge has also secured strategic investment from Abu Dhabi Investment Authority post-closing. The deal is expected to close in the summer of 2023, pending necessary approvals. INDUS aims to provide significant value to stockholders through this merger, which reflects the quality of its long-established industrial portfolio.
INDUS Realty Trust has declared a quarterly cash dividend of
For further updates, shareholders should monitor INDUS’ SEC filings, particularly regarding future dividends and business conditions.
INDUS Realty Trust reported its 2022 financial results, showing a fourth-quarter net income of $1.9 million ($0.19 per share), down from $19.6 million ($1.94 per share) in Q4 2021. Core Funds from Continuing Operations rose to $5.3 million ($0.52 per share) from $3.6 million ($0.35 per share) year-over-year. The company executed leases totaling 543,000 square feet and recorded a 16% increase in rental revenue, largely due to property acquisitions. A quarterly cash dividend of $0.18 per share was declared, a 12.5% increase. Additionally, INDUS entered a merger agreement for $67.00 per share in cash, set to close in summer 2023, pending regulatory approvals.
INDUS Realty Trust has announced a definitive merger agreement with affiliates of Centerbridge Partners and GIC Real Estate. Under this agreement, INDUS stockholders will receive
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