Sila Realty Trust Board Neutral on $5.62 Unsolicited Tender Offer

The board of Sila Realty Trust Inc., a publicly registered, non-traded real estate investment trust formerly known as Carter Validus Mission Critical REIT II, informed stockholders that it “remains neutral” and makes no recommendation in regards to an unsolicited tender offer from Comrit Investments 1 LP, a Tel Aviv-based investment fund.

Comrit is offering to purchase up to 373,665 Class A shares, 53,381 Class I shares, and 106,761 Class T shares, at a price of $5.62 per share. The offer is a 31% discount to Sila’s current estimated value per share of $8.13.

Shares of Sila most recently traded on LODAS Markets, previously known as Realto, for $5.05 each.

The company recently announced operating results for the third quarter ended Sept 30, 2023, including the acquisition of the Burr Ridge Healthcare Facility at a purchase price of $59.9 million.

Sila Realty Trust owned 132 healthcare properties and two undeveloped land parcels as of Sept. 30, 2022. The REIT raised approximately $1.2 billion in investor equity after launching its initial offering in May 2014. Its follow-on offering closed in November 2018 after raising $129.3 million.

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