Oct 24 (Reuters) - Plymouth Industrial REIT ( PLYM )

said on Friday it would be taken private by Makarora Management

and Ares Management ( ARES ), in a deal worth about $2.1 billion

including debt, after it had received a buyout offer from Sixth

Street Partners.

Boston, Massachusetts-based Plymouth's shareholders will

receive $22 per share from the deal, the company said. Its

shares fell more than 2% in after-hours trading following the

announcement.

The real estate investment trust earlier this year

received an unsolicited, non-binding proposal for $24.10 per

share in cash from Sixth Street. As of August, Sixth Street

beneficially owns about 9.99% of Plymouth's outstanding common

stock.

Makarora founder and CIO Chad Pike said Plymouth's​

portfolio of cost-competitive industrial assets in the Midwest

and East Coast is "well-positioned to capitalize on strong

industrial demand from these major population centers."

Plymouth said it intends to conduct a 30-day "go-shop"

period expiring on November 23, permitting the company and its

financial advisors to actively initiate, solicit and consider

alternative acquisition proposals from third parties.

The company added that it would pay a fee of $40.1

million if the deal does not go through, or would receive $70.2

million if terminated.

The deal is expected to close in early 2026, subject to

approval by Plymouth's shareholders and other customary

regulatory approvals.

KeyBanc Capital Markets and J.P. Morgan Securities acted

as Plymouth's financial advisors, while Morrison & Foerster and

Alston & Bird served as the legal counsel.