Sila Realty Trust Inc.

09/25/2024 | Press release | Distributed by Public on 09/25/2024 14:32

Regulation FD Disclosure Form 8 K

Item 7.01 Regulation FD Disclosure.
GenesisCare Update
As previously disclosed by Sila Realty Trust, Inc. (the "Company"), GenesisCare USA, Inc. and its affiliates ("GenesisCare"), the sponsor and owner of the tenant in certain of our real estate properties, announced that it filed for Chapter 11 bankruptcy protection under the United States Bankruptcy Code on June 1, 2023 and emerged from bankruptcy on February 16, 2024. On July 11, 2024, the Company entered into a contract for sale with a buyer for Fort Myers Healthcare Facility I and Fort Myers Healthcare Facility II (collectively, the "Fort Myers Healthcare Facilities"), which were properties previously leased to GenesisCare.
On September 25, 2024, the Company, through a wholly-owned subsidiary of its operating partnership, Sila Realty Operating Partnership, LP, completed the sale of the Fort Myers Healthcare Facilities. The contractual sales price of the Fort Myers Healthcare Facilities was $15.5 million, and the Company generated net proceeds of approximately $14.6 million, after transaction costs and other pro-rations, subject to additional transaction costs that will be paid subsequent to the closing date.
The information furnished under Item 7.01 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended. The furnishing of this information is not intended to constitute a representation that such furnishing is required by Regulation FD or other securities laws, or that the information includes material investor information that is not otherwise publicly available. In addition, the Company does not assume any obligation to update such information in the future.