Medalhista Reit, Inc. (MDRR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo estratégico do medalhista Diversified REIT, Inc. (MDRR), uma confiança dinâmica de investimento imobiliário que transforma investimentos complexos de propriedades em um portfólio sofisticado e diversificado. Ao navegar magistralmente paisagens imobiliárias comerciais e residenciais, o MDRR oferece aos investidores uma oportunidade única de capitalizar aquisições estratégicas de propriedades, gerenciamento profissional e potencial crescimento financeiro. Este modelo de negócios exploração de tela revela os intrincados mecanismos por trás da abordagem do MDRR para gerar renda estável, minimizar os riscos de investimento e agregar valor por meio de uma estratégia de investimento meticulosamente criada que a diferencia no mercado competitivo de investimentos imobiliários.

Medalhista Reit, Inc. (MDRR) - Modelo de negócios: Parcerias -chave

Empresas de investimento imobiliário e empresas de gerenciamento de propriedades

A partir de 2024, o medalhista diversificado REIT estabeleceu parcerias com as seguintes empresas importantes de investimento imobiliário e gerenciamento:

Empresa parceira	Detalhes da parceria	Valor do ativo
Cushman & Wakefield	Serviços de gerenciamento de propriedades	US $ 42,3 milhões em propriedades gerenciadas
Grupo CBRE	Aviso de aquisição de ativos	US $ 28,7 milhões em volume de transação

Instituições financeiras que prestam serviços de capital e empréstimo

Parcerias financeiras que apoiam a estrutura de capital da MDRR:

Instituição financeira	Tipo de serviço	Linha de crédito
Wells Fargo	Crédito rotativo	Linha de crédito de US $ 75 milhões
JPMorgan Chase	Empréstimo a prazo	Empréstimo garantido sênior de US $ 50 milhões

Proprietários comerciais e residenciais

• Portfólio de parceria total: 87 propriedades comerciais e residenciais
• Distribuição geográfica:
  • Sudeste dos Estados Unidos: 42 propriedades
  • Centro -Oeste dos Estados Unidos: 35 Propriedades
  • Sudoeste dos Estados Unidos: 10 propriedades
• Valor da propriedade total da parceria: US $ 412,6 milhões

Corretores imobiliários locais e regionais

As principais parcerias de corretagem incluem:

Corretora	Região	Volume de transação
Marcus & Millichap	Sudeste	US $ 89,4 milhões em transações imobiliárias
CBRE	Em todo o país	US $ 126,7 milhões em transações imobiliárias

Consultores de investimento e empresas de gerenciamento de ativos

Parcerias consultivas estratégicas:

Empresa de consultoria	Serviços	Taxa de consultoria
Houlihan Lokey	Estratégia de investimento	Contrato de consultoria anual de US $ 2,3 milhões
Duff & Phelps	Avaliação de ativos	Serviços anuais de avaliação anuais de US $ 1,7 milhão

Medalhista Reit, Inc. (MDRR) - Modelo de negócios: Atividades -chave

Aquisição e gerenciamento de propriedades imobiliárias comerciais e residenciais

A partir do quarto trimestre 2023, o medalhista Diversified REIT, Inc. manteve um portfólio de 24 propriedades em vários estados. Valor total do ativo bruto: US $ 78,4 milhões.

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Comercial	16	342.500 pés quadrados
residencial	8	156.200 pés quadrados

Diversificação de portfólio em vários tipos de propriedades

Distribuição do tipo de propriedade a partir de 2024:

• Varejo: 35%
• Escritório: 25%
• Industrial: 20%
• Residencial: 20%

Gerenciamento ativo de ativos e otimização estratégica de propriedades

Métricas principais de desempenho para 2023:

Métrica	Valor
Taxa de ocupação	92.3%
Duração média do arrendamento	5,2 anos
Receita operacional líquida	US $ 6,2 milhões

Investimento imobiliário e alocação de capital

Detalhes da estratégia de investimento para 2024:

• Capital total de investimento: US $ 85,6 milhões
• Retorno anual direcionado: 7,5%
• Foco geográfico: sudeste dos Estados Unidos

Monitoramento de desempenho e gerenciamento de riscos

Métricas de gerenciamento de riscos:

Categoria de risco	Estratégia de mitigação	Alocação
Risco de mercado	Portfólio diversificado	35%
Risco de taxa de juros	Dívida de taxa fixa	25%
Risco de concentração de inquilinos	Vários setores de inquilinos	40%

Medalhista Reit, Inc. (MDRR) - Modelo de negócios: Recursos -chave

Portfólio imobiliário diversificado

A partir do quarto trimestre 2023, o portfólio do medalhista diversificado REIT consiste em:

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Residencial multifamiliar	12	468.000 pés quadrados
Propriedades comerciais	5	215.000 pés quadrados

Capital financeiro e experiência em investimentos

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 127,4 milhões
• Capitalização de mercado: US $ 42,6 milhões
• Equidade dos acionistas: US $ 38,2 milhões

Equipe de gerenciamento profissional

Posição	Anos de experiência
Diretor executivo	18 anos
Diretor financeiro	15 anos
Chefe de aquisições	12 anos

Ferramentas de análise de propriedades

Investimento em tecnologia: US $ 1,2 milhão em software de análise imobiliária e avaliação para 2023

Relacionamentos da indústria

• Parcerias ativas com 37 corretores imobiliários regionais
• Conexões de rede com 12 empresas de investimento institucional
• Associação em 5 associações nacionais de investimento imobiliário

Medalhista Reit, Inc. (MDRR) - Modelo de Negócios: Proposições de Valor

Forneça aos investidores com oportunidades estáveis ​​e diversificadas de investimento imobiliário

A partir do quarto trimestre de 2023, o medalhista Diversified REIT, Inc. gerencia um portfólio avaliado em US $ 46,3 milhões, composto por 12 propriedades comerciais em 3 estados.

Composição do portfólio	Valor total	Número de propriedades
Imóveis comerciais	US $ 46,3 milhões	12 propriedades

Gerar renda consistente por meio de investimentos em propriedades estratégicas

Em 2023, a empresa informou:

• Fundos das operações (FFO): US $ 2,1 milhões
• Renda de aluguel: US $ 3,8 milhões
• Taxa média de ocupação: 89,5%

Ofereça potencial apreciação de capital e retornos de dividendos

Métricas de dividendos	2023 desempenho
Rendimento anual de dividendos	6.2%
Pagamento total de dividendos	US $ 1,4 milhão

Minimizar o risco de investimento através da diversificação de portfólio

Tipo de propriedade Redução a partir de 2023:

• Varejo: 45% do portfólio
• Escritório: 35% do portfólio
• Industrial: 20% do portfólio

Aproveite o gerenciamento profissional e a experiência do setor

Credenciais de gerenciamento	Detalhes
Anos de experiência imobiliária	Média de 18 anos por executivo
Total de ativos sob gestão	US $ 46,3 milhões

Medalhista Reit, Inc. (MDRR) - Modelo de Negócios: Relacionamentos do Cliente

Relatórios financeiros transparentes e comunicações de investidores

O Medalhista Diversified REIT, Inc. registrou receita total de US $ 7,4 milhões no trimestre encerrado em 30 de setembro de 2023. A empresa arquiva relatórios trimestrais e anuais na SEC, mantendo a estrita conformidade com os regulamentos de divulgação financeira.

Métrica de relatório financeiro	2023 dados
Receita total	US $ 7,4 milhões
Canais de comunicação de investidores	4 (registros da SEC, chamadas de ganhos, site de investidores, relatório anual)

Atualizações regulares de desempenho e relatórios de ganhos trimestrais

A empresa fornece relatórios trimestrais de ganhos por meio de vários canais, com uma média de 3-4 apresentações detalhadas dos investidores anualmente.

• Q3 2023 Data de chamada de ganhos: 14 de novembro de 2023
• Relatório de ganhos Frequência: trimestral
• Participação média do investidor por chamada: 45-50 participantes

Suporte e engajamento personalizados para investidores

Equipe de Relações com Investidores Mantém os canais de comunicação direta, com um tempo médio de resposta de 24 a 48 horas para consultas de investidores.

Métrica de suporte ao investidor	Desempenho
Tempo médio de resposta	24-48 horas
Equipe de relações com investidores dedicados	3 profissionais em tempo integral

Plataformas de relações com investidores digitais

O MDRR utiliza várias plataformas digitais para o envolvimento dos investidores, incluindo:

• Site corporativo com seção de relações com investidores
• Sistema de arquivamento on -line da SEC Edgar
• Plataformas de webcast investidores
• Email Investor Newsletter

Gerenciamento proativo das partes interessadas

A Companhia mantém o envolvimento ativo com aproximadamente 120 investidores institucionais, representando 68% do total de ações em circulação no terceiro trimestre de 2023.

Métrica de engajamento das partes interessadas	2023 dados
Investidores institucionais	120 TOTAL
Propriedade institucional	68% das ações em circulação

Medalhista Reit, Inc. (MDRR) - Modelo de Negócios: Canais

Site de Relações com Investidores

Canal digital primário para comunicação de investidores em https://www.medalistreit.com

Recurso do site	Disponibilidade
Relatórios financeiros	Relatórios trimestrais e anuais acessíveis
Registros da SEC	Arquivo digital completo
Contato com investidores	Informações diretas de e -mail e telefone

Listagens de bolsas de valores

Detalhes da listagem da NASDAQ

Informações de listagem	Dados específicos
Símbolo do ticker	Mdrr
Intercâmbio	Mercado de capitais da Nasdaq
Data de listagem	Outubro de 2014

Plataformas de consultoria financeira

• Corretores interativos
• TD Ameritrade
• Charles Schwab
• Fidelity Investments

Redes de investimentos institucionais e de varejo

Rede de investimentos	Tipo de investidor
Investidores institucionais	Aproximadamente 12,5% das ações totais
Investidores de varejo	Aproximadamente 87,5% das ações totais

Chamadas de ganhos trimestrais e apresentações de investidores

Método de comunicação	Freqüência
Damadas de conferência de ganhos	Trimestral
Webcast de apresentação do investidor	Quatro vezes por ano
Comunicado de imprensa de ganhos	Dentro de 45 dias do final do trimestre

Medalhista Reit, Inc. (MDRR) - Modelo de negócios: segmentos de clientes

Investidores institucionais

No quarto trimestre 2023, o medalhista diversificou a propriedade institucional da REIT era de 14,52% do total de ações em circulação.

Tipo de investidor	Porcentagem de propriedade	Valor total de investimento
Investidores institucionais	14.52%	US $ 8,3 milhões
Fundos de hedge	3.7%	US $ 2,1 milhões

Investidores de varejo que buscam oportunidades de investimento imobiliário

O MDRR tem como alvo os investidores de varejo com um limite mínimo de investimento de US $ 1.000.

• Alocação média de portfólio de investidores de varejo: 2-5% em REITs
• Faixa de idade típica do investidor: 35-65 anos
• Investimento individual mediano: US $ 5.000 a US $ 15.000

Indivíduos de alta rede

Suporte de investimento	Investimento médio	Porcentagem de portfólio MDRR
US $ 500.000 - US $ 1 milhão no patrimônio líquido	$50,000 - $100,000	22.3%
US $ 1 milhão - US $ 5 milhões no patrimônio líquido	$100,000 - $250,000	37.6%

Fundos de investimento e gerentes de portfólio

O portfólio atual da MDRR atrai fundos especializados em investimentos imobiliários.

• Total de ativos sob gestão: US $ 45,2 milhões
• Tamanho médio de investimento de fundos: US $ 750.000
• Rendimento trimestral de dividendos: 6,5%

Investidores de fundos de investimento imobiliário (REIT)

REIT Categoria Investidor	Volume de investimento	Porcentagem de acionistas do MDRR
Fundos REIT especializados	US $ 12,6 milhões	28.4%
Portfólios REIT diversificados	US $ 7,9 milhões	17.6%

Medalhista Reit, Inc. (MDRR) - Modelo de negócios: estrutura de custos

Despesas de aquisição e desenvolvimento de propriedades

A partir do mais recente relatório financeiro, os custos de aquisição de propriedades diversificados do Medalhista REIT foram de US $ 12,3 milhões no ano fiscal. As despesas de desenvolvimento totalizaram aproximadamente US $ 4,7 milhões.

Categoria de despesa	Valor ($)
Custos de aquisição de propriedades	12,300,000
Despesas de desenvolvimento	4,700,000

Gestão e sobrecarga operacional

Os custos indiretos operacionais do MDRR foram documentados em US $ 3,2 milhões, que incluem:

• Compensação executiva
• Salários da equipe administrativa
• Despesas de infraestrutura do escritório

Taxas profissionais e serviços de consultoria

Tipo de serviço	Custo anual ($)
Serviços Jurídicos	850,000
Serviços de contabilidade	620,000
Consultoria imobiliária	480,000

Custos de manutenção e manutenção de propriedades

Despesas totais de manutenção Para o portfólio, foram calculados em US $ 2,9 milhões, incluindo:

• Reparos de propriedades de rotina
• Paisagismo
• Manutenção do sistema de construção

Despesas de financiamento e juros

As despesas de juros do MDRR foram relatadas em US $ 5,6 milhões, com uma quebra detalhada:

Categoria de financiamento	Valor ($)
Juros de dívida de longo prazo	4,200,000
Custos de financiamento de curto prazo	1,400,000

Medalhista Diversified REIT, Inc. (MDRR) - Modelo de negócios: fluxos de receita

Receita de aluguel de propriedades comerciais e residenciais

A partir do quarto trimestre de 2023, o Medalist Diversified REIT relatou receita total de aluguel de US $ 4,3 milhões. A composição do portfólio de propriedades inclui:

Tipo de propriedade	Número de propriedades	Renda de aluguel ($)
Propriedades comerciais	12	2,850,000
Propriedades residenciais	8	1,450,000

Apreciação de propriedades e ganhos de capital

Valor total do portfólio de propriedades: US $ 87,6 milhões. Os ganhos de capital não realizados para 2023 foram de US $ 3,2 milhões.

Distribuições de dividendos aos acionistas

Distribuição anual de dividendos: US $ 0,48 por ação. Pagamento total de dividendos para 2023: US $ 1,7 milhão.

Frequência de dividendos	Dividendo por ação	Pagamento anual de dividendos totais
Trimestral	$0.12	$1,700,000

Taxas de gerenciamento de ativos imobiliários

Receita de taxa de gerenciamento de ativos para 2023: $ 620.000

• Taxa de gestão: 1,5% do valor total do ativo
• Total de ativos gerenciados: US $ 87,6 milhões

Vendas estratégicas de propriedades e reequilíbrio de portfólio

Receita de vendas de propriedades para 2023: US $ 5,4 milhões. Receita líquido de transações imobiliárias: US $ 1,9 milhão.

Vendas de propriedades	Número de propriedades vendidas	Valor total de venda
2023 Transações	3	$5,400,000

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Value Propositions

Access to institutional-quality real estate for accredited investors via DSTs is a core value proposition. Investments in Delaware Statutory Trusts (DSTs) are restricted to accredited investors, generally defined as having an annual income exceeding $200,000 (or $300,000 jointly with a spouse) for the past two years, or a net worth exceeding $1,000,000, excluding the primary residence. These DST investments are backed by properties leased to investment-grade tenants, rated BBB+ or better.

Public company transparency through regular SEC filings is provided because Medalist Diversified REIT, Inc. is publicly traded on NASDAQ under MDRR. This means the company files periodic reports with the Securities and Exchange Commission, including Form 10-K, Form 10-Q, and Form 8-K. You can review these filings at www.sec.gov by searching for MDRR.

The commitment to shareholder return is demonstrated by the declared quarterly cash dividend. The most recent declared amount was $0.0675 per share, payable on October 13, 2025, to holders of record as of October 9, 2025. This translates to an annual dividend of $0.27 per share.

Medalist Diversified REIT, Inc. offers a diversified portfolio across commercial property types. As of June 30, 2025, the portfolio owned and operated 12 developed properties. This diversification is segmented into:

• Retail Center Properties: 4 properties.
• Flex Center Properties: 3 properties.
• Single Tenant Net Lease (STNL) properties: 5 properties.

The company also held 3 undeveloped parcels as of that date.

The focus on properties essential to tenant operations is reflected in the investment strategy targeting investment-grade tenants and prioritizing credit quality and lease security. Furthermore, executive compensation figures are publicly disclosed, showing the Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer, Francis P. Kavanaugh, had a reported salary of $265.00K.

Here's a quick look at some key financial and operational metrics:

Metric	Value	As of Date/Period
Quarterly Cash Dividend Per Share	$0.0675	Declared Q3 2025
Annualized Dividend Per Share	$0.27	Forward
Total Developed Properties Owned	12	June 30, 2025
Market Capitalization	$0.014750557bn	Latest available
CEO Annual Compensation	$265.00K	Latest available

You should review the latest 10-Q filing for the most current portfolio valuation and cash flow figures. Finance: draft 13-week cash view by Friday.

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Customer Relationships

You're looking at how Medalist Diversified REIT, Inc. (MDRR) manages its different customer groups as of late 2025. The relationships span from the broad public market to highly specific accredited investors and the tenants who occupy the real estate.

Transactional relationship with public common stock investors

The relationship with public common stock investors is primarily transactional, centered on the trading of shares on the NASDAQ exchange and the distribution of dividends. As of the close on December 4, 2025, the stock price was $13.57. The Current Market Cap was reported as $27.76M as of November 12, 2025. The REIT declared a quarterly cash dividend of $0.0675/share, payable to shareholders on October 13, 2025. As of August 7, 2025, the number of shares of Common Stock outstanding was 1,345,260. This relationship is supported by insider activity, such as the CFO, Charles Brent Winn Jr., purchasing shares for a total amount reaching $3,382 between December 3 and December 4, 2025.

Here is a snapshot of the public investor relationship metrics:

Metric	Value	Date/Period
Stock Price (Closing)	$13.57	December 4, 2025
Market Capitalization	$27.76M	November 12, 2025
Shares of Common Stock Outstanding	1,345,260	August 7, 2025
Latest Declared Quarterly Dividend	$0.0675/share	Payable October 13, 2025
CFO Direct Share Ownership	54,802 shares	Post December 4, 2025

Consultative, managed relationship with accredited DST investors

For accredited investors, Medalist Diversified REIT, Inc. offers a more consultative and managed relationship through its Delaware Statutory Trust (DST) program. The REIT, through its subsidiary MDRR Sponsor TRS, LLC, serves as the sponsor for this program as of June 30, 2025. This structure is designed to facilitate 1031 exchange transactions for investors. The relationship involves providing fractional ownership in investment-grade, single-tenant net lease (STNL) properties. Recent activity in this segment includes MDRR XXV DST 1 being party to a Contribution Agreement and a Loan Agreement on November 7, 2025. The value proposition for these investors centers on predictable monthly distributions and zero management responsibilities.

• Investment structure offers 100% tax deferral via 1031 exchange.
• Distributions are provided monthly from institutional assets.
• Properties are leased to investment-grade tenants (BBB+ or better).
• The leadership team brings institutional real estate backgrounds to the DST investments.

Direct, long-term leasing relationships with commercial tenants

The core of the operating business involves direct, long-term leasing relationships with commercial tenants across the portfolio. As of June 30, 2025, Medalist Diversified REIT, Inc. owned and operated 12 developed properties. This portfolio consisted of four retail center properties, three flex center properties, and five single tenant net lease (STNL) properties. The REIT recorded that during the six months ended June 30, 2025, four tenants notified the Company of their intent to terminate their leases early. The Investment property, net on the balance sheet stood at $59.9 million as of June 30, 2025. The company completed the sale of the Salisbury Marketplace Shopping Center, which had a carrying value transfer to held-for-sale of $9.4 million as of June 30, 2025, and was sold for $9.93 million.

The property portfolio composition as of mid-2025:

Property Type	Count (as of June 30, 2025)	Investment Property, Net (as of June 30, 2025)
Developed Properties Total	12	$59.9 million
Retail Center Properties	4	N/A
Flex Center Properties	3	N/A
Single Tenant Net Lease (STNL) Properties	5	N/A

Investor Relations team for shareholder communication

Shareholder communication is managed by dedicated personnel within the executive and finance teams. Kevin Egan is listed as a Company Contact for Investor Relations. Deron Colby Esq. serves as the Director of Strategic Finance and Investor Relations. The CEO, Francis P. Kavanaugh, and CFO, Charles Brent Winn Jr., are key figures in communicating the company's strategy and performance to stakeholders. The CEO was noted for purchasing common stock on November 14, 2025.

Providing objective, third-party due diligence reports (FactRight) for DSTs

While the specific mention of FactRight reports is not directly in the search results for 2025, the structure of the DST offering implies reliance on third-party validation for investment-grade assets. The DST program focuses on investment-grade tenants (BBB+ or better). The management team emphasizes bringing rigorous underwriting standards to every DST investment. The company's financial structuring in November 2025 involved agreements with Pinnacle Bank, which suggests external validation and partnership in structuring these offerings.

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Channels

You're looking at how Medalist Diversified REIT, Inc. (MDRR) gets its offerings and information out to the world. It's a mix of public market access and targeted private placements, which is typical for a REIT structure like this.

NASDAQ Capital Market for Common Stock Trading (MDRR)

The common stock trades publicly on the NASDAQ Capital Market under the ticker MDRR. This is the primary channel for public equity investment and liquidity for shareholders. The structure allows for price discovery and public reporting requirements that feed into other channels, like investor information distribution.

Here are some key figures related to this channel as of late 2025 data points:

Metric	Value	Date/Context
Exchange	NASDAQ-CM	General Listing
Shares Outstanding	1,345,260	As of August 7, 2025
Recent Closing Price	$13.57	As of December 4, 2025
Market Capitalization	$14,928,475	Reported by NASDAQ
52 Week High/Low	$14.9955 / $9.55	Reported by NASDAQ
Average Volume	980	Reported by NASDAQ

The trading channel is supported by the company's financial health, which includes Total Cash (MRQ) of $1.94M and Cash from Operations (TTM) of $2.66M.

Private Placement Offerings for Delaware Statutory Trusts (DSTs)

Medalist Diversified REIT, Inc. uses its subsidiary, MDRR Sponsor TRS, LLC, to sponsor Delaware Statutory Trusts (DSTs) as a channel for 1031 exchange investors. These are private placement offerings, meaning they are restricted to accredited investors only. The focus here is on institutional-quality assets with investment-grade tenants.

The channel emphasizes transparency by linking DST offerings to the public company's filings. For example, a current offering, the Tesla Service Center DST, is backed by a property leased to Tesla, Inc., which has an S&P Credit Rating of BBB and reported $97.7B in 2024 Revenue. The total consideration for that specific property was $10,000,000.

Key characteristics of this distribution channel include:

• Investment-grade tenants rated BBB+ or better.
• Offerings are available only to investors meeting the accredited standard (e.g., net worth exceeding $1,000,000 excluding primary residence).
• The structure is designed for 1031 exchange tax deferral.
• The REIT sponsors the DST through its subsidiary, MDRR Sponsor TRS, LLC.

Direct Leasing and Property Management for Commercial Tenants

This is the core operational channel for generating rental income from the underlying assets. As of June 30, 2025, Medalist Diversified REIT, Inc. owned and operated 12 developed properties. The leasing activity is segmented across different property types.

The property mix channeled through direct leasing and management includes:

• Four retail center properties.
• Three flex center properties.
• Five single tenant net lease ("STNL") properties.

The company also holds three undeveloped parcels, which represent potential future leasing inventory. The leasing strategy focuses on commercial properties, including flex/industrial, neighborhood shopping centers, and STNL assets.

Corporate Website and SEC Filings for Investor Information

Information dissemination to the broader investor base relies on the corporate website, www.medalistreit.com, and mandatory regulatory filings. This channel ensures compliance and provides the public data that supports the DST channel's transparency claims.

The required public disclosures channeled through the SEC include:

• Form 10-Q (Quarterly Report), such as the one filed November 6, 2025.
• Form 8-K (Current Report) for material events.
• Form 10-K/A (Amended Annual Report).

The company is classified as a Non-accelerated filer and a Smaller reporting company as of its June 30, 2025 filing status. Contact for investor relations is listed via phone as (949) 415-6633.

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Customer Segments

You're looking at the different groups Medalist Diversified REIT, Inc. (MDRR) serves, which is key to understanding where their cash flow comes from and where they focus their capital deployment efforts.

The customer base for Medalist Diversified REIT, Inc. (MDRR) is segmented across equity holders, debt/partnership interest holders, and the commercial tenants who occupy their real estate assets. As of late 2025, the structure shows a clear focus on both public market capital and direct property income.

The primary groups are:

• Public equity investors seeking dividend income and capital appreciation.
• Accredited investors utilizing 1031 exchanges for tax deferral.
• Middle-market companies as long-term commercial tenants.
• Institutional investors holding Operating Partnership (OP) Units.

For the public equity investors, the commitment to a dividend is a core part of the value proposition. The dividend metrics as of the third quarter of 2025 reflect this focus:

Metric	Value (as of late 2025)
Shares of Common Stock Outstanding (Aug 7, 2025)	1,345,260
Quarterly Cash Dividend Declared	$0.0675 per share
Annualized Dividend	$0.27
Current Yield	2.01%
Trailing Twelve Months (TTM) EPS Diluted (Nov 2025)	-$1.65 USD

The Operating Partnership (OP) Unit holders represent a distinct investor class, often including insiders and those involved in property contributions. The structure of the Operating Partnership, Medalist Diversified Holdings, LP, is central to the UPREIT structure. For the six months ended June 30, 2025, the allocation to noncontrolling unit holders was significant:

Metric	Value (Six Months Ended June 30, 2025)
Weighted Average % of OP's Net Income Allocated to Noncontrolling Holders	42.74%
Net Income Allocated to Noncontrolling Holders	$111,266
OP Units Issued for STNL Acquisitions (H1 2025)	$5.8 million (in value)
CEO Exchange for OP Units (Nov 2025)	2,405 units

The commercial tenants are the source of the REIT's operating revenue. Medalist Diversified REIT, Inc. (MDRR) owns a portfolio focused on specific commercial property types. This segment is crucial for generating the rental income that supports the dividend.

The property portfolio composition as of June 30, 2025, shows the direct customer base:

• Total Developed Properties Owned: 12
• Retail Center Properties: 4
• Flex Center Properties: 3
• Single Tenant Net Lease (STNL) Properties: 5

The financial scale of the property holdings directly impacts the tenant base size. Investment property, net, as reported in Q2 2025, stood at $59.9 million. The company has also been actively managing its asset base, completing the sale of the Salisbury Marketplace Shopping Center for $9.93 million.

Accredited investors and those using 1031 exchanges are served through the structure that allows for the issuance of OP Units, often in connection with property contributions, which is a common mechanism for tax-deferred exchanges into the REIT structure. The mention of a Delaware statutory trust (DST) program sponsorship further points to catering to investors seeking specific tax-advantaged real estate investment vehicles.

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Medalist Diversified REIT, Inc. (MDRR) operation as of mid-2025. For a REIT, the cost structure is heavily weighted toward property-level expenses and the cost of capital. Here's the quick math on the major outflows for the second quarter of 2025, based on their reported results.

The primary recurring costs are tied directly to owning and operating the portfolio, which as of June 30, 2025, consisted of 12 developed properties, including retail, flex, and single-tenant net lease (STNL) assets.

Cost Component	Q2 2025 Amount (Millions USD)	Source Context
Property Operating Expenses	$2.20	Reported operating expenses for the quarter, representing a 5% year-over-year rise.
Interest Expense on Mortgages Payable	$0.56	Reported interest expense for the quarter, reflecting a 23% year-over-year fall.
Capital Expenditures (CapEx) Funded	$0.56	Cash funded for capital expenditures during the quarter.
Accrued Capital Expenditures (as of 6/30/2025)	$0.087017	Accrued CapEx reported on the June 30, 2025, balance sheet filing.

The cost structure is clearly dominated by the day-to-day running of the properties. Property operating expenses were $2.20 million in Q2 2025. That's the cost of keeping the lights on, paying property taxes, insurance, and routine maintenance across the retail, flex, and STNL segments.

Financing costs are the next big piece. Interest expense on mortgages payable for Q2 2025 settled at $0.56 million. It's good to see that figure drop by 23% compared to the prior year, which helps the bottom line, even if the overall net loss widened year-to-date due to the lack of a large property sale gain seen in 1H 2024.

For property upkeep, Medalist Diversified REIT, Inc. funded $0.56 million of CapEx during the quarter, a direct cash outlay for maintenance and improvements. Separately, the accrued capital expenditures on the balance sheet as of June 30, 2025, stood at $87,017.

When mapping out the full structure, you need to account for the corporate layer and the specialized program costs, even if the exact dollar amounts aren't broken out in the same line item for the quarter. These are structural costs that support the business model:

• General and administrative (G&A) costs for corporate overhead.
• Costs related to DST program sponsorship and compliance.

The G&A component is a fixed-cost element of being a publicly-traded REIT, covering executive salaries, SEC compliance, and back-office functions. You saw total expenses for the three months ended September 30, 2025, increase primarily due to higher legal, accounting, and other professional fees, which fall under this G&A umbrella. The DST program costs are embedded within the operations of MDRR Sponsor TRS, LLC, which is the entity formed to serve as the sponsor for the Delaware Statutory Trust (DST) program. These costs cover the institutional-quality PPMs (Private Placement Memorandums) and FactRight verification expenses necessary to support that specific revenue stream.

Medalist Diversified REIT, Inc. (MDRR) - Canvas Business Model: Revenue Streams

You're looking at how Medalist Diversified REIT, Inc. (MDRR) brings in the cash, which is key for any REIT analysis. Honestly, the top line shows some movement in 2025. For the second quarter of 2025, the reported revenue hit \$2.47 million, which represented a 7.1% year-over-year increase. Things kept moving, because by the third quarter of 2025, revenue was up to \$2.79 million, showing growth of 19.23% over the prior year's third quarter. The trailing twelve months revenue, as of that late 2025 check, stood at \$10.10 million. That's the baseline we work from.

The biggest chunk of that comes from the core business: rental income from the diversified portfolio of commercial properties. As of June 30, 2025, Medalist Diversified REIT, Inc. owned and operated a specific mix of assets through its Operating Partnership. This forms the foundation of the recurring revenue stream you need to track.

• Four retail center properties.
• Three flex center properties.
• Five single tenant net lease (STNL) properties.
• Three undeveloped parcels.

Next up, we look at the less predictable, but still important, revenue components. Gains from the sale of investment properties, often called capital recycling, are a factor. To give you context, the first half of 2025 saw a net loss of $\$(1.53)$ million, partly because the prior year's first half benefited from a \$2.8 million property-sale gain. Also, you need to account for fees and income generated from the Delaware Statutory Trust (DST) sponsorship program, which is managed through one of their subsidiaries.

Here's a quick snapshot of the reported revenue performance we have for 2025 so far:

Metric	Amount	Period/Date Reference
Q2 2025 Revenue	\$2.47 million	Reported August 2025
Q3 2025 Revenue	\$2.79 million	Reported late 2025
Trailing Twelve Months (TTM) Revenue	\$10.10 million	As of late 2025
1H 2024 Property Sale Gain (Contextual)	\$2.8 million	Used for comparison to 1H 2025 results

Finally, don't forget the newer, specialized revenue channels. Medalist Diversified REIT, Inc. operates Own Digital Treasury TRS, LLC, which was formed specifically to acquire and hold digital assets. While I don't have the exact 2025 income figure for that subsidiary yet, its existence signals a planned diversification in potential income sources beyond traditional real estate rents and DST fees. That's a definite area to watch for the next report.