Recent Updates — MDRR
Medalist Diversified filed a Certificate of Correction with Maryland authorities confirming that its June 17, 2026 Articles of Amendment are of no force or effect. The company initially believed stockholders approved the amendment at their annual meeting on June 16, but later determined it did not receive the requisite vote despite appearing to have over 95% support. Consequently, the charter remains in its pre-amendment state. The Board intends to seek approval again at a special meeting. Medalist Diversified operates as an investment holding company.
Medalist Diversified Holdings LP, the company's operating partnership, entered into a Non-Recourse Guaranty, Completion Guaranty, and Environmental Indemnity to support a $13.8 million construction loan for a joint venture development in Savannah, Georgia. The loan bears interest at 11.5% or WSJ Prime plus 4.75%, maturing October 9, 2027. Medalist Diversified holds an approximately 42% preferred equity interest in the Mira Sav Partners LLC joint venture alongside Spandrel Development Partners and company executives. The operating partnership operates as a real estate investment vehicle focused on multifamily residential developments.
The Board of Directors authorized and declared a quarterly cash dividend on common stock in the amount of $0.0675 per share. The dividend is payable on October 23, 2026 to holders of record as of October 16, 2026. Medalist Diversified operates as a sponsor of Delaware Statutory Trusts.
Medalist Diversified, Inc. filed an amended 8-K to provide financial statements and unaudited pro forma information required by Item 9.01(b) for the acquisition of the Overland Park Property, a 16,100-square-foot automotive service building in Kansas purchased on July 29, 2026, for $5,800,000 funded by cash on hand. The filing includes pro forma consolidated balance sheets and statements of operations reflecting this acquisition alongside eight recent property dispositions totaling over $86 million in sales proceeds and the deconsolidation of the Tesla Pensacola Property DST. Medalist Diversified, Inc. operates as a real estate investment trust focused on net-leased commercial properties.
Medalist Diversified, Inc. closed on the acquisition of a property located at 8600 Highway 377 in Aubrey, Texas, for $5,404,864. The asset consists of approximately 1.653 acres and a 15,118-square-foot automotive service building housing a Caliber Collision Center. The transaction was funded using the company's cash on hand and executed through a Delaware statutory trust (DST). The company intends to offer beneficial interests in the DST to accredited investors via a private placement under Regulation D, with proceeds designated to redeem the company’s beneficial interests for cash. This real estate investment supports Medalist Diversified, Inc.'s business model of acquiring and holding commercial properties.
Medalist Diversified, Inc. closed on the sale of its Brookfield Property in Greenville, South Carolina, for $10.1 million on September 1, 2026, using $4.34 million to defease and retire the associated mortgage loan. The company also entered a joint venture with Spandrel Development Partners, contributing $4.0 million for a 42% preferred equity interest in Mira Sav Partners LLC, while providing a limited guaranty for an approximate $13.5 million construction loan. Additionally, Medalist reinstated and amended its Purchase and Sale Agreement for the Aubrey, Texas property, reducing the sales price from $5,494,444 to $5,404,864 and extending the inspection period. The company operates in the real estate investment trust industry, owning and managing a diversified portfolio of commercial properties.