$SCCE

Sachem Capital (SACH) reported a Q1 2026 net loss of $7.2 million, or $0.15 per share, primarily due to a $5.4 million credit loss provision and $1.6 million in IRG transaction expenses. The company announced a definitive agreement with Industrial Realty Group (IRG) to form IRG Realty Trust, which is expected to own 98 industrial properties valued at $2.9 billion, plus Sachem’s $470 million in assets, resulting in an implied $3.4 billion enterprise value. This strategic combination aims to create a top-10 publicly listed industrial REIT, despite the quarter's challenging financial results, which included a non-cash credit loss from a Naples, Florida loan restructuring and a decline in book value per common share to $2.25.