Sculptor Diversified Real Estate Income Trust Inc.
09/25/2025 | Press release | Distributed by Public on 09/25/2025 15:12
Material Event (Form 8-K)
Item 8.01. Other Events
Purchase and Sale Agreement for Marysville Property
On August 14, 2025, Sculptor Diversified Real Estate Income Trust, Inc. (the "Company"), through an indirect subsidiary (the "Purchaser"), entered into a purchase and sale agreement (the "PSA") with a third party to purchase a property consisting of a 1,280,496 square foot distribution center on an approximately 81-acre site located in Marysville, Ohio (the "Marysville Property"). The purchase price is expected to be $122 million, excluding due diligence expenses and other closing costs.
The Marysville Property is 100% leased to a wholly owned subsidiary of a leading marketer of branded consumer lawn and garden care products that is listed on the NYSE. The lease expires in October 2040 with two five-year extension options. The annual base rent is approximately $7.8 million and increases by 3% annually. The lease structure is triple net.
We believe that the Marysville Property is suitable for its intended purpose and is adequately insured. We do not intend to make significant renovations or improvements in the near-term.
Pursuant to the terms of the PSA, the due diligence period expired on September 19, 2025. The Purchaser made deposits (the "Deposit") totaling $2 million to be held in escrow, with such amount to be applied at closing to the purchase price. The Deposit became non-refundable upon our completion of due diligence and the expiration of the due diligence period pursuant to the terms of the PSA. The Purchaser intends to fund the acquisition of the Marysville Property with a combination of cash and proceeds from a to-be-obtained mortgage loan. The acquisition is expected to close in the fourth quarter of 2025. The consummation of the acquisition is subject to our completion of due diligence and various closing conditions to be met by the parties. If we do not close on the acquisition, there are circumstances under which we may forfeit the deposit we have funded.
Sculptor Diversified Real Estate Income Trust Inc. published this content on September 25, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 25, 2025 at 21:12 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]