MDRR · Medalist Diversified REIT, Inc.

Summary

Medalist Diversified REIT, Inc. completed the sale of Greenbrier Business Center Property for $11 million, using $7 million to repay debt, amended its credit agreement to reduce monthly Term Loan payments from $103,348 to $30,000 and release the Company as guarantor, terminated its REIT election effective January 1, 2026, and changed its name to Medalist Diversified, Inc. effective March 2, 2026.

Key takeaways

• Sold Greenbrier Business Center Property on February 13, 2026 for $11,000,000 to CLM Acquisitions, LLC.
• Used $7,000,000 sale proceeds to repay portion of Term Loan.
• Amended Credit Agreement on February 13, 2026: reduced monthly payment to $30,000, released Company as guarantor replacing with Operating Partnership, removed Greenbrier collateral and MDR Greenbrier, LLC as borrower.
• Board authorized termination of REIT election effective January 1, 2026 on February 12, 2026; filed Certificate of Notice on February 17, 2026.
• Amended Articles of Incorporation and Bylaws on February 17, 2026 to change name to Medalist Diversified, Inc. effective March 2, 2026; trading continues under MDRR.
• Term Loan principal $18,609,500 at 4.50% interest, matures June 1, 2027; post-paydown balance $4,812,511.13.