Broad Street Realty, Inc. (OTCPK:BRST) entered into a purchase and sale agreement to acquire Midtown Row from BBL Current Owner, LLC for approximately $120 million on December 21, 2021. Broad Street Realty will acquire the property for a purchase price of $122.0 million in cash. Not later than three business days after the effective date, Broad Street Realty shall deposit in escrow $200,000. Upon the later to occur of (a) January 17, 2022, or (b) purchaser's receipt of proceeds from its additional public offering, and provided that purchaser has not elected to terminate this Agreement, Broad Street Realty shall deposit an additional $500,000. The deposit will remain fully refundable until January 17, 2022. The acquisition is subject to customary closing conditions, including execution of a subordination agreement, and the company expects to close the Midtown Row Acquisition by the end of the second quarter of 2022. Alexis Peters of Shulman, Rogers, Gandal, Pordy & Ecker, P.A. acted as legal advisor to Broad Street Realty, Inc. On November 23, 2022, Broad Street Realty, Inc. completed the previously announced acquisition for $118.7 million in cash, 448,180 Common OP Units and 1,851,820 Preferred OP Units. The cash portion of the purchase price was funded with proceeds from the Midtown Row Mortgage, the Fortress Mezzanine Loan and the Preferred Equity Investment. As consideration in the Midtown Row Acquisition as a result of their direct or indirect interests in BBL Current, (i) Mr. Jacoby received 97,086 Common OP Units, (ii) Daniel J.W. Neal, a director of the Company, indirectly received 202,861 Common OP Units, (iii) Jeffrey H. Foster, a director of the Company, received 33,810 Common OP Units, (iv) Mr. Yockey received 97,086 Common OP Units and (v) Alexander Topchy, the Company's chief financial officer, received 17,337 Common OP Units. As previously disclosed, Mr. Jacoby serves as the chief executive officer and a director of BBL Current, and the Company served as the development manager for Midtown Row and serves as the property manager and the leasing broker for the retail portion of Midtown Row. The Midtown Row acquisition was unanimously approved by the Board, including its disinterested directors.

Broad Street Realty, Inc. (OTCPK:BRST) completed the acquisition of Midtown Row from BBL Current Owner, LLC on November 23, 2022.