{"id":1004799250,"date":"2026-05-19T05:23:10","date_gmt":"2026-05-19T13:23:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004799250"},"modified":"2026-05-19T06:52:25","modified_gmt":"2026-05-19T14:52:25","slug":"sachem-capital-industrial-realty-group-to-form-3-4b-public-reit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sachem-capital-industrial-realty-group-to-form-3-4b-public-reit\/","title":{"rendered":"Sachem Capital, Industrial Realty Group to Form $3.4B Public REIT"},"content":{"rendered":"\n

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Stuart Lichter, left, and John Villano, right, will both serve on the new REIT’s board of directors.
 Images courtesy of Sachem Capital Corp.<\/em><\/figcaption><\/figure><\/div>\n\n\n

Sachem Capital Corp. and Industrial Realty Group have agreed to form IRG Realty Trust Inc., a top-10 U.S. public industrial REIT with an implied combined enterprise value of about $3.4 billion. The combined company will operate as IRG Realty Trust Inc.<\/p>\n\n\n\n

IRG will contribute 98 of its 200 industrial assets to the REIT, while Sachem will contribute about $470 million of total assets in direct and indirect mortgage loans, investments in developmental and owned real estate, and other assets. IRG\u2019s remaining industrial assets will remain with it.<\/p>\n\n\n\n

After closing, IRG will own about 94.1 percent of the combined company via operating partnership units, and Sachem\u2019s existing shareholders will own about 5.9 percent.<\/p>\n\n\n\n

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READ ALSO: <\/strong>April 2026 National Industrial Report<\/a><\/p>\n\n\n\n

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In a prepared statement, Sachem CEO John Villano remarked that the strategic combination is expected to improve Sachem\u2019s cost of capital, resulting in improved cash flow generation over time.<\/p>\n\n\n\n

Stuart Lichter, founder and chairman of IRG, added that the combined portfolio will have \u201cscale, diversification and a clear operating strategy.\u201d<\/p>\n\n\n\n

In addition, the announcement noted that a substantial percentage of leases within the 98 properties being contributed to the new REIT are below market rates.<\/p>\n\n\n\n

It\u2019s anticipated that the combined company’s leadership will consist of Sachem executives and key additions with extensive industrial real estate experience. The combined company\u2019s board will be composed of seven members, including at least four independent directors. The board is expected to be led by Lichter as chairman, with Villano serving as well.<\/p>\n\n\n\n

Property management of the combined portfolio will be handled by IRG Realty Advisors, IRG\u2019s wholly owned asset management, property management and real estate operating company.<\/p>\n\n\n\n

The transaction has been approved unanimously by the Sachem board of directors and is expected to close by the end of this year, subject to customary conditions, including approval by Sachem\u2019s shareholders.<\/p>\n\n\n\n

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