SACH News & Events

Book value per common share as of March 31 was $2.25. John Villano, Sachem's CEO, commented, "During the first quarter, we remained focused on disciplined capital and liquidity management, continuing the strategic priorities established last year. We made meaningful progress resolving legacy loan issues and protecting invested capital, positioning the Company for improved operating performance and future growth. Subsequent to quarter end, we announced a transformational combination transaction with Industrial Realty Group, which will add significant industrial property lease-driven revenue while enhancing our ability to deliver creative capital solutions to real estate investors. We believe this combination will add meaningful scale and diversification to our asset base, positioning the Company to generate consistent and attractive risk-adjusted returns for shareholders over time."

Sachem Capital and Industrial Realty Group, or IRG, a private real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the U.S., have entered into a definitive contribution agreement under which IRG will contribute 98 industrial assets from its 200-asset portfolio owned by IRG and/or its partners to Sachem, and once completed, the combined company will operate as IRG Realty Trust, or IRGT. Upon closing, IRGT is expected to own 98 industrial properties with gross real estate asset value of $2.9B plus Sachem's approximately $470M of total assets in direct and indirect mortgage loans, investments in developmental and owned real estate, and other assets. IRGT is expected to have an implied enterprise value of approximately $3.4B, positioning IRGT as a top-10 publicly listed industrial REIT based on enterprise value. IRGT will focus on mission-critical industrial infrastructure supporting manufacturing and distribution users. IRG will receive operating partnership units in IRGT's newly formed operating partnership, representing 94.1% of outstanding equity at closing, with existing Sachem common shareholders retaining ownership of 5.9% on a fully diluted basis. The transaction values Sachem's common shares at $2.00 per share, representing a 90% premium to 30-day VWAP. IRGT is expected to execute a 20-to-1 reverse stock split, implying a post-split reference price of $40.00 per share. It is expected that the combined company's leadership will be comprised of Sachem executives and additions with industrial real estate experience. Additionally, IRG Realty Advisors, IRG's wholly owned asset management, property management and real estate operating company, is expected to support day-to-day property and asset management operations following closing. The transaction is expected to close by the end of 2026, subject to customary conditions including approval by Sachem's shareholders.

John Villano, Sachem's CEO, commented, "We closed 2025 with strong momentum and a continued focus on disciplined capital allocation and balance sheet strength. We're taking decisive steps to address legacy exposures while positioning the company for meaningful value creation. As we move forward, we remain focused on originating high-quality, secured real estate loans under conservative underwriting standards, while driving profitable growth and operational excellence. With a strong balance sheet and experienced team, we believe we are well positioned to deliver attractive risk-adjusted returns and long-term shareholder value."

Reports Q3 revenue $12M, consensus $10.85M. Book value per common share as of September 30, 2025, was $2.47, a change of $0.17 from book value per common share as of December 31, 2024 of $2.64. John Villano, CPA, Sachem's Chief Executive Officer, commented, "In the third quarter, amid a challenging macroeconomic backdrop, our focus remained on disciplined portfolio management and capital preservation. Following the successful completion of our $100 million senior secured notes private placement, we used a portion of the proceeds to repay $56.3 million of unsecured subordinated notes, extending our debt maturity profile and strengthening our liquidity. As a result, we are in a better position to capitalize on high-quality lending opportunities, which we believe will drive long-term shareholder value into 2026 and thereafter."