# EDGAR Filing Document

**Accession Number:** 0001446371
**File Stem:** 0001446371-23-000007
**Filing Date:** 2023-2
**Character Count:** 9975
**Document Hash:** 113321fdc5c84004e0233aa60b2d2880
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001446371-23-000007.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001446371-23-000007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230227

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Strategic Realty Trust, Inc.
- **CENTRAL INDEX KEY:** 0001446371
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-54376
- **FILM NUMBER:** 23672667

**BUSINESS ADDRESS:**
- **STREET 1:** 550 W ADAMS ST
- **STREET 2:** SUITE 200
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60661
- **BUSINESS PHONE:** 312-878-4860

**MAIL ADDRESS:**
- **STREET 1:** 550 W ADAMS ST
- **STREET 2:** SUITE 200
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60661

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TNP Strategic Retail Trust, Inc.
- **DATE OF NAME CHANGE:** 20080929

?xml version="1.0" ? srtr-20230227

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, DC 20549

_________________________________

FORM 8-K

_________________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): February 27, 2023

_________________________________

**Strategic Realty Trust, Inc.** 

(Exact name of Registrant specified in its Charter)

_________________________________

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Maryland** | &nbsp;&nbsp;**000-54376** | &nbsp;&nbsp;**90-0413866** |
| &nbsp;&nbsp;(State or other jurisdiction of<br>incorporation or organization) | &nbsp;&nbsp;(Commission File Number) | &nbsp;&nbsp;(IRS Employer<br>Identification No.) |

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550 W Adams St, Suite 200

Chicago, Illinois, 60661

(Address of Principal Executive Offices, including Zip Code)

Registrant's telephone number, including area code: (312) 878-4860

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01. Regulation FD Disclosure.**

On February 27, 2023, Strategic Realty Trust, Inc. posted a shareholder newsletter to its website. A copy of this newsletter is provided at Exhibit 99.1 to this Current Report on Form 8-K.

The information in this report, including Exhibit 99.1, is being furnished pursuant to item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

**Item 9.01. Financial Statements and Exhibits.**

*(d) Exhibits*

99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Shareholder Newsletter](srtshareholdernewsletter.htm)</u>

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | STRATEGIC REALTY TRUST, INC. | STRATEGIC REALTY TRUST, INC. |
| Dated: February 27, 2023 | By: | <u>/s/ Matthew Schreiber</u> |
|  |  | Matthew Schreiber |
|  |  | Chief Executive Officer |

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## Exhibit 99.1

![](srtshareholdernewsletter001.jpg)

Strategic Realty Trust is a non-traded real estate investment trust, focused on building a portfolio of high quality urban and street retail properties in major west coast markets Shareholder Newsletter February 2023 SRTREIT.COM Strategic Realty Trust (the "REIT") is a non-trad d r al estate investment trust, focused on building a portfolio of high quality urban nd stre t r tail properties in major west coast markets 1 Introduction Hello, we are happy to send you the latest edition of the Strategic Realty Trust Shareholder Newsletter. As a reminder, effective April 1, 2021, SRT Advisors LLC ("SRT Advisor") was acquired by PUR SRT Advisors LLC, an affiliate of PUR Management LLC, which is an affiliate of L3 Capital, LLC. L3 Capital is a real estate investment firm focused on institutional-quality, value-add, prime urban retail and mixed-use investment within first tier U.S. metropolitan markets. Overview SRT Advisor has been working diligently to expedite the portfolio's recovery from the COVID-19 pandemic and other macro-economic headwinds. Its mission is simple: return as much value to the shareholders as possible. Despite many challenges since the onboarding of the L3 Capital team in April 2021, the REIT has made sizable progress at the balance sheet level, property level, and operations level – all as discussed below. Balance Sheet Update Our first order of business as the new advisor was to evaluate the financial health of the REIT. The properties were producing relatively minimal cash flow, and the REIT's lenders were still demanding the REIT to meet its debt obligations. The Covid-19 pandemic impacted many owners of real estate, but the REIT was hit particularly hard given its concentration of retail properties in San Francisco, which adopted some of the most punitive government mandates as it related to landlords' rights. The REIT's biggest cash demands were related to the two development deals at 3032 Wilshire and 7441- 49 Sunset Ave ("Sunset & Gardner). This led SRT Advisor and the REIT to explore a sale of both assets, which ultimately culminated in two separate transactions which closed in the fourth quarter of 2022. The global pandemic derailed any pre-leasing momentum at these developments, resulting in reduced liquidity on the balance sheet and annual losses for several years. Over the past three years the REIT recorded impairment losses of $6.0M, $6.9M and $13.4M in 2022, 2021 and 2020, respectively. These losses all related to those two development projects and accounted for 68%, 64% and 86% of the REIT's GAAP net loss during those years. Selling these assets also helped free up additional liquidity in the amount of over $2.8 million, which will be used to fund various operational costs of the REIT. Silver Lake Collection Los Angeles, CA

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![](srtshareholdernewsletter002.jpg)

Strategic Realty Trust is a non-traded real estate investment trust, focused on building a portfolio of high quality urban and street retail properties in major west coast markets Shareholder Newsletter February 2023 SRTREIT.COM 2 Property Update In response to various tenant-friendly laws that forgave rent delinquency and other lease obligations during the pandemic, SRT Advisor spent months negotiating early termination agreements or addressing natural lease expirations at many of the REIT's units (Johnny Doughnuts, Little Gem, Urban Remedy, Eve's Nails, Sawyer, Kettle Black and Scout). This allowed the REIT to collect some portion of past due rents while simultaneously allowing it to backfill newly vacant storefronts with new, paying tenants. The strategy has proven effective as the REIT has now backfilled those seven storefronts with new, paying tenants – all but two of which are open and operating. The last two storefronts backfilled (a portion of the former Eve's Nails and the former Johnny Doughnuts spaces in San Francisco) are targeting an early March 2023 opening, and both of those tenants are already paying rent. The success of this strategy has been critical to stabilizing the REIT's cash flow; uncollectible revenue from tenants decreased from $588,000 during the first nine months of 2021 to $19,000 during the first nine months of 2022. Furthermore, for the nine months ended September 30, 2022, the REIT increased tenant operating lease income approximately 14% compared to the same period in 2021 (from $1,439,000 in 2021 to $1,640,000 in 2022). Operations update The board of directors of the REIT and SRT Advisor continuously strive to reduce the REIT's operating costs for the benefit of the REIT's shareholders. In 2022, SRT Advisor agreed to reduce its asset management fee by 50%, its disposition fee by 50% in connection with certain sales and waived its financing fee in connection with certain financings. 450 Hayes Street San Francisco, CA 388 Fulton Street San Francisco, CA

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![](srtshareholdernewsletter003.jpg)

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