Triple Crown Realty Trust (TCRT) Announces Stock Split, Lists Shares for Trading on LODAS Markets

News provided by

Triple Crown Realty Trust

Mar 27, 2024, 10:00 ET

WICHITA, Kan., March 27, 2024 /PRNewswire/ -- Triple Crown Realty Trust, Inc. ("TCRT"), a private REIT focused on Middle America industrial real estate, announces a 200-for-1 stock split and the listing of its shares on LODAS Markets, effective April 2.

TCRT is also the inaugural transfer-agent customer for LODAS, which operates an automated marketplace matching buyers and sellers like a stock exchange. About 40 private REITs and other securities are available on the LODAS platform. 

TCRT's current net asset value (NAV) is $8,000/share, becoming $40 post-split.

WHY IT MATTERS: TCRT AND INVESTORS

  • The split puts TCRT's NAV per share more in line with other NAV REITs. TCRT was formed as a typical real estate-focused limited partnership in 2016, converting to a REIT in 2021.
  • Investors can buy and sell TCRT shares in the secondary market on the automated LODAS platform. Most trades settle in T+1 fashion (the day after the trade).  

WHY IT MATTERS: LODAS

  • TCRT brings another important, growing NAV REIT to the LODAS marketplace.
  • Securing TCRT as a transfer-agent client is important to LODAS' plan to vertically integrate the entire, fully electronic lifecycle of the investor experience, from initial client onboarding through the ultimate secondary sale of the investment.

FROM THE EXECUTIVES

  • TCRT President Tim Johnson: "We formed TCRT as a typical LP and, as a NAV REIT, the timing is right to split our stock and price our shares accordingly. We're also excited to partner with LODAS in the secondary market, underscoring our commitment to investors." 
  • LODAS CEO Brian King: "We're proud to work with TCRT, an entrepreneurial Midwest-based company that shares our dedication to investors." 

ABOUT TCRT

TCRT, Wichita, Kan., acquires secondary and tertiary Middle America industrial assets with professionally owned/managed tenants, sponsored by private equity. 

  • TCRT has provided investors with eight consecutive quarterly distributions, plus NAV appreciation. Total returns since 2017 exceed 8%.

TCRT DISCLAIMER

This announcement is neither an offer to sell nor a solicitation of an offer to buy any security. Past results may not indicate future results. Some of the statements herein may be deemed "forward looking" and actual results may differ significantly. Refer to the TCRT Private Placement Memorandum for more information and important disclosures or visit TCRTreit.com.

MEDIA CONTACT

Randy Williams
+1.917.213.5980
[email protected]
EPH2Comms

SOURCE Triple Crown Realty Trust