Plymouth REIT, a vertically integrated and self-managed real estate investment trust, completed the acquisition of an 80% stake in Plymouth MIR JV, joint venture formed in December 2020 to acquire a portfolio of industrial buildings in metropolitan Memphis, from Madison International Realty, a real estate investment firm, for $103m. "We are pleased to close out this portfolio joint venture with Madison under mutually beneficial terms. With our team on the ground in Memphis, we were able to proactively enhance the management of the properties while improving the physical condition and drive leasing," Jeff Witherell, Plymouth Chairman and CEO.