Medalist Diversified REIT Secures $7.7 Million Loan from Pinnacle Bank

Reuters11-12
<a href="https://laohu8.com/S/MDRR">Medalist Diversified REIT</a> Secures $7.7 Million Loan from <a href="https://laohu8.com/S/PBNK">Pinnacle Bank</a>

Medalist Diversified REIT Inc. has entered into a new loan agreement through its subsidiary, MDRR XXV DST 1, with Pinnacle Bank for a loan amount of $7,710,000. In connection with this financing, Medalist Diversified Holdings, LP, the company's operating partnership, has provided a limited guaranty covering certain potential costs, expenses, and losses for which the DST may be liable under the loan agreement, as well as a guaranty of the principal balance and any outstanding interest or other sums in the event of specific bankruptcy or insolvency proceedings involving the DST. The agreements are part of a transaction related to the acquisition of a Tesla sales, service, and delivery facility in Pensacola, Florida.

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