Makarora Management and Ares complete $2.1 billion cash acquisition of Plymouth Industrial REIT, ending public trading.
Quiver AI Summary
Makarora Management LP has successfully completed its acquisition of Plymouth Industrial REIT, Inc. in an all-cash deal valued at approximately $2.1 billion, with Plymouth shareholders receiving $22.00 per share. Following the acquisition, Plymouth will no longer be publicly traded. The transaction involved several financial and legal advisors, including KeyBanc Capital Markets and J.P. Morgan for Plymouth, and Moelis & Company and Citigroup for Makarora. Makarora, established in 2024 and based in New York, focuses on providing capital solutions in the commercial real estate sector. Ares Management Corporation also participated in the acquisition, being a prominent global alternative investment manager with a wide range of investment strategies.
Potential Positives
- Makarora has successfully completed a major acquisition of Plymouth Industrial REIT, Inc. valued at approximately $2.1 billion, enhancing its portfolio in the commercial real estate sector.
- The acquisition provides cash consideration of $22.00 per share to Plymouth shareholders, indicating strong financial backing and a commitment to shareholder value.
- This strategic move positions Makarora as a significant player in the real estate investment market, leveraging Ares Management's extensive experience and resources in alternative investments.
- By taking Plymouth private, Makarora can streamline operations and make strategic decisions without the pressures of public market scrutiny, potentially leading to improved long-term performance.
Potential Negatives
- The acquisition valued at approximately $2.1 billion means Makarora has made a significant financial commitment, which could raise concerns about the impact on the firm's liquidity and future investment capabilities.
- Plymouth shareholders will no longer have publicly traded ownership, which might lead to dissatisfaction among investors expecting long-term engagement and growth potential from Makarora.
- The press release emphasizes the involvement of multiple financial and legal advisors, which may highlight complexities in the transaction and raise questions about the transaction costs and management's decision-making processes.
FAQ
What is the value of the acquisition of Plymouth Industrial REIT?
The acquisition is valued at approximately $2.1 billion.
What will Plymouth shareholders receive from the acquisition?
Plymouth shareholders will receive cash consideration of $22.00 per share.
Will Plymouth remain a publicly traded company after the acquisition?
No, Plymouth will no longer be traded or listed on any public securities exchange.
Who advised Plymouth on this acquisition?
KeyBanc Capital Markets Inc. and J.P. Morgan Securities LLC acted as Plymouth’s financial advisors.
What is the focus of Makarora Management LP?
Makarora focuses on providing differentiated capital solutions in the commercial real estate sector.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PLYM Insider Trading Activity
$PLYM insiders have traded $PLYM stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $PLYM stock by insiders over the last 6 months:
- JEFFREY E WITHERELL (CEO) sold 151,583 shares for an estimated $3,313,604
- ANTHONY SALADINO (President and CFO) sold 88,730 shares for an estimated $1,939,637
- JAMES CONNOLLY (EVP/Asset Management) sold 59,376 shares for an estimated $1,297,959
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PLYM Revenue
$PLYM had revenues of $51.2M in Q3 2025. This is a decrease of -1.37% from the same period in the prior year.
You can track PLYM financials on Quiver Quantitative's PLYM stock page.
$PLYM Hedge Fund Activity
We have seen 100 institutional investors add shares of $PLYM stock to their portfolio, and 100 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MADISON INTERNATIONAL REALTY HOLDINGS, LLC removed 4,121,393 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $92,030,705
- WESTWOOD HOLDINGS GROUP INC removed 2,739,260 shares (-60.5%) from their portfolio in Q3 2025, for an estimated $61,167,675
- HUDSON BAY CAPITAL MANAGEMENT LP added 2,525,651 shares (+inf%) to their portfolio in Q3 2025, for an estimated $56,397,786
- BLACKROCK, INC. added 1,670,537 shares (+44.8%) to their portfolio in Q3 2025, for an estimated $37,303,091
- FMR LLC removed 1,622,195 shares (-96.8%) from their portfolio in Q3 2025, for an estimated $36,223,614
- NEUBERGER BERMAN GROUP LLC removed 1,592,767 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $35,566,487
- TIG ADVISORS, LLC added 1,456,153 shares (+inf%) to their portfolio in Q3 2025, for an estimated $32,515,896
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PLYM Price Targets
Multiple analysts have issued price targets for $PLYM recently. We have seen 5 analysts offer price targets for $PLYM in the last 6 months, with a median target of $22.0.
Here are some recent targets:
- John Kim from BMO Capital set a target price of $22.0 on 10/27/2025
- Brendan Lynch from Barclays set a target price of $22.0 on 10/27/2025
- Barry Oxford from Colliers Securities set a target price of $22.0 on 10/27/2025
- David Rodgers from Baird set a target price of $24.0 on 10/23/2025
- Anthony Hau from Truist Securities set a target price of $21.0 on 08/20/2025
Full Release
NEW YORK, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Makarora Management LP (“Makarora”) today announced that, together with Ares Alternative Credit funds (“Ares”), it has completed the previously announced acquisition of Plymouth Industrial REIT, Inc. (“Plymouth”) in an all-cash transaction valued at approximately $2.1 billion.
Pursuant to the terms of the transaction, Plymouth shareholders will receive cash consideration of $22.00 per share. With the completion of the acquisition, Plymouth will no longer be traded or listed on any public securities exchange.
For more information about the transaction, please see the news release issued by Plymouth on October 24, 2025, which is available on Plymouth’s website at www.plymouthreit.com .
Advisors
KeyBanc Capital Markets Inc. and J.P. Morgan Securities LLC acted as Plymouth’s financial advisors. Morrison & Foerster LLP and Alston & Bird LLP served as Plymouth’s legal counsel.
Moelis & Company LLC acted as the lead financial advisor to Makarora. Citigroup Global Markets Inc. also served as a financial advisor to Makarora. Greenberg Traurig LLP and Simpson Thacher & Bartlett LLP served as Makarora’s legal counsel. Latham & Watkins LLP and Kirkland & Ellis LLP served as Ares’ legal counsel. Dechert LLP served as Citi’s legal counsel.
About Makarora
Makarora Management LP is a New York-based investment management firm established in 2024 and led by senior professionals with extensive experience investing through global property market cycles. The Firm seeks to provide differentiated capital solutions to the commercial real estate sector spanning a wide range of investments, including opportunistic credit, structured capital, and equity. For more information, please visit
https://makarora-lp.com
.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2025, Ares Management Corporation's global platform had over $595 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit
www.aresmgmt.com
.
About Plymouth
Plymouth Industrial REIT, Inc. is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Its mission is to provide tenants with cost-effective space that is functional, flexible and safe.
