04:56 PM EDT, 10/24/2025 (MT Newswires) -- Plymouth Industrial REIT ( PLYM ) said late Friday it has entered into a go-private deal to be acquired by Makarora, in an all-cash transaction valued at around $2.1 billion, including certain debt.

Under the deal, Makarora, along with Ares Alternative Credit funds, will buy all outstanding shares of the REIT for $22 per share. This marks a premium of about 50% from Plymouth's closing price on Aug. 18, the last day before Sixth Street's proposal, according to a statement.

The acquisition is expected to close in early 2026. The company said it also plans to conduct a 30-day go shop period, allowing it to consider alternative proposals from third parties, which is set to expire on November 23.

Shares of the company were down around 1.6% in recent after-market hours.