Plymouth REIT Shares Surge on $193M Ohio Acquisition and 9.99% Stake Filing
By ATTN Desk · Editorial oversight: Sean Han
Introduction
PLYMOUTH INDUSTRIAL REIT INC (NYSE: PLYM; name in Korean: 플리머스 인더스트리얼 리츠) is a vertically integrated real estate investment trust focused on the acquisition, ownership, and management of single- and multi-tenant industrial properties across primary and secondary markets in the United States. Headquartered in Boston, the company seeks to provide tenants with space suitable for logistics, warehousing, and light-industrial use.
Corporate Structure
Headquartered at 20 Custom House Street, 11th Floor, Boston, MA 02110, Plymouth Industrial REIT employs approximately 11–50 individuals. The board of directors and executive leadership team has an average of over 25 years of experience in commercial real estate, overseeing a portfolio that spans multiple U.S. regions and industrial corridors.
Industrial Properties by Point3D Commercial Imaging Ltd.
Recent Developments
On June 23, 2025, Plymouth completed the acquisition of a 1.95 million-square-foot industrial portfolio in Ohio—comprising assets in Columbus, Cincinnati, and Cleveland—for $193.0 million.
On July 8, 2025, the company announced details for its second-quarter earnings conference call scheduled for August 7, 2025.
On August 6, 2025, Plymouth Industrial REIT reported its second-quarter results for the period ended June 30, 2025, reaffirming its full-year 2024 Core Funds from Operations (FFO) guidance of $1.88–$1.90 per share.
On August 27, 2024, Plymouth entered a strategic partnership with Sixth Street, which committed $250 million of growth capital—$116 million for joint-venture equity for its Chicago portfolio and $140 million in preferred equity for the operating partnership—facilitating leverage-neutral expansion and improving the management of legacy assets.
Financial and Strategic Analysis
As of mid-2025, the company’s portfolio metrics include:
| Metric | Value |
|---|---|
| Properties | 148 |
| Total Square Feet | 32 million |
| Buildings | 226 |
| Total Annualized Base Rent | $154 million |
| Same-Store Occupancy | 95% |
| WA Lease Term Remaining | 2.9 years |
On August 18, 2025, a Schedule 13D filing revealed that TSSP Sub-Fund Holdco, LLC and Alan Waxman jointly hold 4,944,921 shares (9.99% of the class). Plymouth’s share price on August 19, 2025, stood at $21.90, reflecting an increase of 49.59% for the day, with a trading volume of 256,526 shares on the New York Stock Exchange.
Market Position and Industry Context
Plymouth’s focus on industrial assets positions it in key logistics hubs, particularly in the “Golden Triangle” region recognized by the CCIM Institute for e-commerce, parcel delivery, and distribution growth. The company mainly targets sub-250,000-square-foot facilities, which benefit from limited supply and strong demand for modern logistics space.
tl;dr
Plymouth Industrial REIT reported Q2 2025 results on August 6, 2025, affirmed its 2024 Core FFO guidance range, and completed the acquisition of a 1.95 million-square-foot Ohio portfolio on June 23, 2025. A strategic partnership with Sixth Street, closed in late 2024, provides $250 million of capital while maintaining leverage targets. A Schedule 13D filing on August 18, 2025, indicated a 9.99% stake held by TSSP Sub-Fund Holdco, LLC and Alan Waxman. Upcoming events include the August 7, 2025, earnings call and ongoing asset acquisitions.