Item 2.01. Completion of Acquisition or Disposition of Assets.
On January 28, 2016, Strategic Realty Trust, Inc. (the "Company"), through a
joint venture with an unaffiliated third party, acquired certain property
located at the corner of Sunset Boulevard and Gardner in Hollywood, California
(the "Sunset & Gardner Joint Venture Property"). On December 12, 2022, the due
diligence period expired under the Purchase and Sale Agreement and escrow
instructions for the sale of the Sunset & Gardner Joint Venture Property by and
between the Company and Bedrock Properties Group, LLC, an unrelated third party.
On December 21, 2022, the Company consummated the disposition of the Sunset &
Gardner Joint Venture Property for $12.9 million in cash, before customary
closing and transaction costs. In connection with the disposition of the Sunset
& Gardner Joint Venture Property, the Company repaid the loan from Lone Oak
Fund, LLC in the amount of $8.7 million, which loan was secured by a first Deed
of Trust on the Sunset & Gardner Joint Venture Property.
Item 9.01. Financial Statements and Exhibits.
(b) Pro forma financial information.
The pro forma financial information of the Company as adjusted to give effect to
the sale of the Sunset & Gardner Joint Venture Property is presented in the
unaudited pro forma condensed consolidated financial statements filed as Exhibit
99.1 to this Current Report on Form 8-K and incorporated herein by reference.
(d) Exhibits
99.1 Unaudited Pro Forma Condensed Consolidated Financial Statements
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