Medalist Diversified, Inc. 8-K

What Happened Medalist Diversified, Inc. (MDRR) reported that its wholly owned subsidiary MDR Franklin Square, LLC closed the sale of the Shops at Franklin Square (134,239 sq. ft.) in Gastonia, North Carolina on March 30, 2026. The purchaser was PC Acquisitions, LLC and the agreed sale price was $24,100,000, negotiated at arm’s length. The company used $12,954,175 of the sale proceeds to defease and retire the mortgage loan secured by the Franklin Square property. The purchase and sale agreement was originally entered on February 3, 2026. The company filed unaudited pro forma condensed consolidated financial information reflecting the disposition as Exhibit 99.1 to the 8-K.

Key Details

• Sale price: $24,100,000 for the Shops at Franklin Square (134,239 sq. ft.), located in Gastonia, NC.
• Mortgage payoff: $12,954,175 of proceeds used to defease and retire the property’s mortgage.
• Buyer: PC Acquisitions, LLC (unaffiliated), closing date March 30, 2026; agreement dated February 3, 2026.
• Dividend declared: quarterly cash dividend of $0.0675 per share, payable April 21, 2026 to holders of record as of April 15, 2026.

Why It Matters The sale reduces Medalist’s retail property holdings and immediately generated cash, a material portion of which retired secured debt tied to that asset. The company provided unaudited pro forma financials to show how the disposition (and prior dispositions) affect its balance sheet and results. Separately, the declared quarterly dividend signals ongoing cash returns to shareholders; investors should review the pro forma financials and the company’s broader liquidity and portfolio strategy for the full financial impact.