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Sila Realty Recommends Shareholders Reject CMG’s Unsolicited Tender Offer

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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, has recommended that their stockholders reject a planned unsolicited tender offer from CMG Partners LLC and its affiliates.

CMG is offering to purchase up to 500,000 Class A shares for $4.16 each. The offer is a 50% discount to Sila’s August 2022 estimated value per share of $8.22.

CMG discloses in their offer letter that it was “motivated to establish a price low enough to anticipate making a profit on its investment, yet which might be acceptable to [the Company’s] [s]hareholders who desire liquidity.”

As admitted by CMG, Sila reports the company is making the offer “with the intention of making a profit.”

Shares of Sila most recently traded on LODAS Markets, previously known as Realto, for $5.90 each.

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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