Broad Street Realty, INC Schedule 13D activist filings

Several Fortress-affiliated entities have surrendered their warrants for Broad Street Realty, Inc. common stock, effectively ending their beneficial ownership stake above 5%.

Fortress affiliates have taken decisive action to recover their preferred equity investment and mezzanine loan from Broad Street Realty, Inc. subsidiaries, including initiating forced property sales and threatening foreclosure following an event of default.

An affiliate of Fortress Investment Group has removed Broad Street Operating Partnership as the managing member of Broad Street Eagles JV LLC, citing a 'Trigger Event' due to the joint venture's Total Yield falling below 7.24%.

Fortress-affiliated entities, acting as sellers, have terminated significant purchase agreements with unnamed purchasers for Broad Street Realty, Inc. securities, citing a material breach and confirming the retention of nonrefundable deposits.

Broad Street Realty, Inc. announced the reinstatement of significant Preferred Membership Interest and Warrant Purchase Agreements and Note Sale and Assignment Agreements with Fortress-affiliated entities, rescheduling the closing dates to March 31, 2025, with a potential extension to April 30, 2025.

Broad Street Realty, Inc. has terminated its Preferred Membership Interest and Warrant Purchase Agreement and Note Purchase Agreement with Fortress-affiliated purchasers due to a material breach, and is now seeking disbursement of a nonrefundable deposit.

Fortress affiliates are selling their preferred membership interests in Broad Street Eagles JV, LLC and a warrant to purchase Broad Street Realty, Inc. common stock, along with a mezzanine loan, to FMC affiliates for a combined total of over $123 million.