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Plymouth Industrial Announces Acquisition Approval by Stockholders
ZACKS· 2026-01-26 15:22
Core Insights - Plymouth Industrial REIT Inc. has received stockholder approval for an all-cash acquisition by Makarora Management LP entities and Ares Alternative Credit Funds, highlighting increasing private capital interest in U.S. industrial real estate [1][7] - The acquisition deal is valued at approximately $2.1 billion and includes the assumption of certain outstanding debt, with an expected closing date around January 27, 2026 [3][7] Company Overview - The merger agreement was established on October 24, 2025, where Makarora and Ares agreed to acquire all outstanding shares and limited partnership interests of Plymouth Industrial OP, LP [2] - Plymouth's industrial assets are strategically located in the Midwest and East Coast, regions that accommodate nearly 70% of the U.S. population, positioning the company to benefit from sustained demand for logistics and light industrial space [4] Market Positioning - The assets of Plymouth align with private capital's preference for scalable, cash-generating properties in supply-constrained markets, a trend observed in the investment strategies of established players like Prologis and Tereno Realty [5] - The partnership with Makarora and Ares Alternative provides Plymouth with access to flexible capital solutions that support expansion initiatives and future revenue growth, enhancing its competitive positioning in the industrial real estate sector [5]