Industrial Realty Group, Sachem Capital Merge to Form $3.4B Industrial REIT
The transaction combines a 98-asset portfolio and a $470 million credit platform
By Brian Pascus May 18, 2026 2:15 pm
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One of the largest private owners of U.S. industrial real estate is merging with a public mortgage trust.
Industrial Realty Group (IRG) and Sachem Capital have agreed to form IRG Realty Trust, a $3.4 billion publicly traded real estate investment trust (REIT) that leverages acquisitions and portfolio management with sector-specific credit investments.
IRG is expected to contribute nearly half of its 200 existing industrial assets to the new portfolio. IRG Realty Trust is expected to hold the 98 industrial properties with an asset value of $2.9 billion, plus an additional $470 million in mortgage loans from Sachem’s credit platform, creating a top 10 industrial REIT based on pure asset value.
The crux of the deal aims to leverage IRG’s industrial properties, which are geographically diffuse and vary in both tenant profile and lease footprint, with Sachem’s nearly $500 million debt platform in turn transforming Sachem from “a subscale mortgage REIT to a scaled, industrial REIT,” according to a release.
John Villano, CEO of Sachem, noted in a statement that the improved cost of capital and expanded lending opportunities from the combined businesses will likely prove valuable to shareholders and investors.
“This accretive transaction provides a clear step forward for Sachem shareholders and IRG stakeholders, creating a powerful industrial platform with greater scale and a strategy built for sustained growth,” said Villano.
Stuart Lichter, founder and chairman of IRG, noted in a statement that his firm is more than five decades old and that IRG Realty Trust will be “one of the largest publicly listed industrial REITs in the country,” once the transaction is approved by shareholders and closes later in the year.
“We are excited that this transaction will bring a high quality industrial real estate portfolio to the public market with scale, diversification, and a clear operating strategy,” said Lichter.
Sachem Capital Corp. currently trades at $1.34 per share.
Brian Pascus can be reached at bpascus@commercialobserver.com.
