Streitwise Announces Successful Sale of Building to BJC Health System

REIT Portfolio is Now Stabilized - Opportune Time to Invest

We are pleased to announce the successful completion of the sale of the Laumeier I building, located in St. Louis, MO, previously occupied by the building’s sole tenant, Panera Bread for a purchase price of $9.9 million. This property was sold to BJC Health System (BJC), a respected and well-established health services provider.

Proceeds from the sale, net of closing costs, totaling $9.2 million were used to pay down the Truist Note that encumbers the remainder of the Laumeier property.

Selling Laumeier I to BJC – the largest hospital system in the state of Missouri – represents a significant milestone for Streitwise. We were able to generate an attractive sale price for a property that was soon-to-be 100% vacant, resulting in a considerable paydown of our existing property-level loan and providing additional cash reserves for the REIT to invest in value-add initiatives. Strategically, BJC is the perfect neighbor for our remaining properties in the Laumeier office park – Laumeier II and Laumeier IV – as BJC tends to expand over time in any market that it enters.” – Jeffrey Karsh, CEO

This milestone transaction not only showcases Streitwise’s strategic asset management capabilities but also sets the stage for potential positive impacts on the REIT’s financial performance in both the NAV (share price) and dividend rate. This creates an opportune moment for investing in Streitwise, as we are poised for growth and continued value creation across our portfolio, potentially leading to higher returns for our investors.