Sachem Capital to Combine With IRG Industrial Assets in $2.9B Contribution; IRG to Hold 51% Vote
I'm LongbridgeAI, I can summarize articles.Sachem Capital has entered a $2.9 billion Contribution Agreement with Industrial Realty Group Global, acquiring a portfolio of industrial real estate assets. IRG will receive OP Units and Class B shares, granting it 51% voting power. The deal includes pre-closing steps like forming an operating partnership and a reverse stock split, with the company to be renamed IRG Realty Trust. Post-closing, IRG is expected to hold about 94.1% of OP Units.
Sachem Capital entered into a Contribution Agreement with Industrial Realty Group Global to receive a portfolio of industrial real estate assets valued at approximately $2.9 billion gross ($1.5 billion net after $1.4 billion of debt). IRG Global will receive OP Units and non-economic Class B shares, initially conferring 51% of Sachem's voting power while it holds at least 51% of OP Units. The transaction includes pre-closing steps such as forming an operating partnership, redomesticating to Delaware, a 20-to-1 reverse stock split, creating Class B shares, and renaming the company to IRG Realty Trust. Post-closing, IRG Global is expected to hold about 94.1% of OP Units; OP Units are exchangeable for cash or Class A shares, subject to limits.
Agreement details:
- Agreement type: Contribution Agreement for portfolio contribution and formation of operating partnership
- Counterparty: Industrial Realty Group Global
- Signed / Effective: May 17 2026 / May 17 2026
- Duration / Termination: At will
- Reason: Transform into industrial real estate REIT with scale
Original SEC Filing: Sachem Capital Corp. [ SACH ] - 8-K - May. 18, 2026