Plymouth Industrial Announces Acquisition Approval by Stockholders

In recent development, Plymouth Industrial REIT Inc. PLYM announced that its stockholders have approved its all-cash acquisition by Makarora Management LP entities and Ares Alternative Credit Funds at a special meeting. The approval marks a key milestone in a transaction that underscores growing private capital interest in high-quality U.S. industrial real estate. The company plans to file a current report on Form-8K with the U.S. Securities and Exchange Commission with the final vote results as certified by the independent Inspector of Election.

To give a brief background of the above development, on Oct. 24, 2025, the three involved entities entered into a definitive merger agreement. Consequently, Makarora and Ares agreed to acquire Plymouth’s entire outstanding shares and all outstanding limited partnership interests of Plymouth Industrial OP, LP, including the assumption of certain outstanding debt.

The all-cash deal was valued at approximately $2.1 billion, delivering accretive and immediate returns to Plymouth’s shareholders. The deal is expected to be through on or about Jan. 27, 2026, subject to customary closing conditions.

Wrapping Up on Plymouth’s Acquisition

The strategic location of Plymouth’s cost-competitive industrial assets in the Midwest and East Coast—regions that house nearly 70% of the U.S. population—positions it well to benefit from sustained demand for logistics and light industrial space, similar to portfolio strategies adopted by Tereno Realty TRNO and Prologis PLD.

These assets align closely with private capital’s preference for scalable, cash-generating properties in supply-constrained markets, a theme consistently reflected in the investment playbooks of PLD and TRNO. Through its partnership with Makarora and Ares Alternative, Plymouth gains access to flexible capital solutions that support expansion initiatives and drive future revenue growth, reinforcing its competitive positioning alongside established industrial players such as TRNO and PLD.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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