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Broad Street Realty nears completion of merger agreements

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Broad Street Realty nears completion of merger agreements

Broad Street Realty Inc. moved closer to wrapping up its merger agreements after recently closing its merger with BSV Premier Brookhill LLC.

BSV Premier Brookhill, the owner of the 163,291-square-foot Brookhill Azalea Shopping Center in Richmond, Va., merged with and into a wholly owned Broad Street unit. Broad Street issued 2,770,619 common shares to the prior investors in BSV Premier Brookhill.

A unit of the merged entity entered into an agreement with Truist Bank, providing for a $10.1 million modified loan, secured by a mortgage on the Brookhill Azalea property.

Baird is the exclusive financial adviser to Broad Street, with Morrison & Foerster and Shulman Rogers as legal advisers.