Business
Plymouth Industrial REIT Announces Agreement to Be Acquired by Makarora for $2.1 Billion
BOSTON, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company” or “Plymouth”) today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) under which entities affiliated with Makarora Management LP ("Makarora"), along with Ares Alternative Credit funds (“Ares”), will acquire all outstanding shares of Plymouth’s common stock and all outstanding limited partnership interests of Plymouth Industrial OP, LP for $22.00 per share
About this update from Ares Management Corporation
[{"type":"image","alt":"Plymouth Industrial REIT Inc.","displaySize":"","headline":null,"caption":"Plymouth Industrial REIT Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":49,"url":"https://media.zenfs.com/en/globenewswire.com/218784feda5e7ad424b835c529fb7466"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/u3Ks9HJJco99l_ESQIkNyQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTY5O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/218784feda5e7ad424b835c529fb7466","width":300,"height":49}},"lazy":false},{"type":"text","content":"BOSTON, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company” or “Plymouth”) today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) under which entities affiliated with Makarora Management LP ("Makarora"), along with Ares Alternative Credit funds (“Ares”), will acquire all outstanding shares of Plymouth’s common stock and all outstanding limited partnership interests of Plymouth Industrial OP, LP for $22.00 per share, in an all-cash transaction valued at approximately $2.1 billion, including the assumption of certain outstanding debt.","length":630,"tagName":"p"},{"type":"text","content":"The purchase price represents a premium of approximately 50% to Plymouth’s unaffected closing common stock price on August 18, 2025, the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners, LLC disclosing a non-binding proposal to acquire all of the outstanding shares of Plymouth’s common stock.","length":353,"tagName":"p"},{"type":"text","content":"“This all-cash transaction will deliver significant, immediate and certain value to Plymouth shareholders,” said Jeff Witherell, CEO and Co-Founder of Plymouth.","length":160,"tagName":"p"},{"type":"text","content":"“Plymouth’s portfolio of cost-competitive industrial assets in the Midwest and East Coast is strategically located within a day’s drive of 70% of the U.S. population. These properties are well positioned to capitalize on strong industrial demand from these major population centers,” said Chad Pike, Founder and CIO of Makarora. “Makarora is committed to providing flexible capital solutions to U.S. real estate businesses, and we are excited to partner with the Plymouth team.”","length":478,"tagName":"p"},{"t...