Sachem Capital & Industrial Realty Group Merge

Sachem Capital and Industrial Realty Group are merging to form a new REIT, IRG Realty Trust, valued at $3.4 billion. The portfolio focuses on manufacturing and distribution spaces, with potential for rent increases as leases renew. The deal includes a reverse stock split, a credit line from Scotiabank, and Stuart Lichter as chairman. The merger awaits shareholder approval amidst a shifting industrial real estate market. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/50215a855cefa277