Welcome to our dedicated page for Plymouth Industr news (Ticker: PLYM), a resource for investors and traders seeking the latest updates and insights on Plymouth Industr stock.
Plymouth Industrial REIT, Inc. was a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single- and multi-tenant industrial properties. Company news has centered on portfolio activity, leasing and acquisition updates, operating and financial results, FFO and AFFO measures, common-stock dividends and tax treatment of distributions.
Later updates also addressed capital-structure matters, shareholder voting items and the completed merger in which PIR Industrial REIT LLC became successor by merger to Plymouth Industrial REIT. The company's public-company history includes NYSE-listed common stock under PLYM and subsequent corporate-status disclosures following the merger.
Plymouth Industrial REIT (NYSE: PLYM) has formed a $150 million equity joint venture with Madison International Realty. Plymouth will hold a 20% stake, while Madison retains 80%. The joint venture aims to acquire value-add and opportunistic industrial properties, starting with a 28-property portfolio in Memphis, totaling 2.3 million square feet. Plymouth will manage the venture and earn a 1% annual asset management fee, along with additional incentives. Funding for the acquisition will comprise 60-65% secured financing and equity contributions from both partners.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has secured a new $300 million unsecured credit facility, consisting of a $200 million revolving credit facility and a $100 million term loan. This replaces an existing $100 million secured facility due in August 2023. The new facility, which matures in October 2024, has a potential expansion up to $500 million. The term loan will mature in October 2025 and will incur lower interest rates compared to previous arrangements. The company will utilize $81 million of the term loan to repay existing debt, enhancing its capital structure for growth.
Plymouth Industrial REIT, Inc. (NYSE: PLYM) has scheduled the release of its third-quarter earnings results for September 30, 2020. The earnings release will be available before market opening on November 6, 2020, followed by a conference call at 9:00 a.m. Eastern Time. Investors can participate via teleconference or through a live audio webcast, accessible on the Company’s Investor Relations website.
The REIT focuses on acquiring and managing industrial properties in the U.S., aiming to enhance shareholder value through active asset management and disciplined capital deployment.