Medalist Diversified REIT, Inc. 8-K

What Happened
Medalist Diversified REIT, Inc. (MDRR) filed an 8‑K reporting several material moves in February 2026. The company closed the sale of the Greenbrier Business Center on February 13, 2026 for $11,000,000 and used $7,000,000 of the proceeds to pay down existing debt. On the same day the company and its subsidiaries entered into amended loan documents with Wells Fargo that (among other things) lower monthly loan payments and change guarantors. Separately, the board authorized termination of the company’s REIT election (effective January 1, 2026), the company filed notice with Maryland on February 17, 2026, and the company amended its charter and bylaws to change its name to “Medalist Diversified, Inc.” effective March 2, 2026 (ticker remains MDRR).

Key Details

• Sale: Greenbrier Business Center sold for $11,000,000; $7,000,000 of proceeds used to repay debt.
• Loan amendment (dated Feb 13, 2026): monthly payment reduced from $103,348 to $30,000; Company released as guarantor and the Operating Partnership assumes guaranty; Greenbrier removed as cross‑collateral; requirement to hold $1,500,000 in liquid assets removed; MDR Greenbrier, LLC removed as a borrower.
• Corporate structure and governance: Board authorized termination of REIT status (effective Jan 1, 2026); filing with Maryland made Feb 17, 2026 removing ownership/transfer limits in the charter.
• Corporate name change: Articles and Bylaws amended Feb 17, 2026 to change name to “Medalist Diversified, Inc.” effective Mar 2, 2026; Nasdaq symbol remains MDRR.

Why It Matters
These actions reduce near‑term cash outflow (lower monthly loan payments) and lower leverage by applying $7M of sale proceeds to debt, which can improve short‑term liquidity and interest burden. Shifting the guaranty from the public company to the Operating Partnership creates a direct financial obligation at the operating partnership level (investors should note the change in which entity is guaranteeing the debt). Termination of the REIT election removes the charter’s ownership limits, which may affect ownership dynamics and tax treatment going forward. The name change is administrative; trading will continue under MDRR.