Medalist Diversified to Acquire $5.8M Overland Park Property via DST
MDRR sits 20% above its 52-week low of $9.47 on light trading volume (0.1× avg).
Summary
Medalist Diversified is acquiring a 1.64-acre commercial property in Overland Park, Kansas, for $5.8 million. This acquisition, representing about 25% of the company's market cap, will be financed through a Delaware Statutory Trust (DST). This move demonstrates execution on their new DST sponsor platform, which was launched on May 6th, and expands their real estate portfolio. The closing is expected within 45 days.
At the time of this announcement, MDRR was trading at $11.35 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $22.7M. The 52-week trading range was $9.47 to $14.52. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.