$BXDC

Keystone REIT Inc.

CIK:0002100161|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026
Revenues
Total Revenues	$ 0	$ 0
Expenses
General and administrative	1,433	1,433
Total Expenses	1,433	1,433
Other Income (Expense)
Interest income	9,295	9,295
Interest expense	(782)	(782)
Total Other Income (Expense)	8,513	8,513
Net Income	$ 7,080	$ 7,080
Net Income Per Share of Common Stock, Basic (in USD per share)	$ 0.14	$ 0.28
Net Income Per Share of Common Stock, Diluted (in USD per share)	$ 0.14	$ 0.28
Weighted-Average Shares of Common Stock Outstanding, Basic (in shares)	50,157,102	25,217,107
Weighted-Average Shares of Common Stock Outstanding, Diluted (in shares)	50,157,102	25,217,107

Condensed Consolidated Statement of Cash Flows (Unaudited) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Cash flows from operating activities
Net income	$ 7,080
Adjustments to reconcile net income to net cash provided by operating activities
Amortization of deferred financing costs	335
Stock-based compensation	76
Change in assets and liabilities
Other assets	(5,449)
Other liabilities	1,014
Due to affiliates	627
Net cash provided by operating activities	3,683
Cash flows from financing activities
Proceeds from public offering of common stock	2,012,398
Payments of underwriting and offering costs	(62,232)
Payments of deferred financing costs	(10,466)
Net cash provided by financing activities	1,939,700
Net increase (decrease) in cash and cash equivalents	1,943,383
Cash and cash equivalents, beginning of period	0
Cash and cash equivalents, end of period	1,943,383
Supplemental disclosure of cash flows information
Payments of interest	0
Supplemental disclosure of non-cash investing and financing activities
Accrued underwriting fee	17,764
Offering costs due to affiliates	7,868
Deferred financing costs due to affiliates	175
Accrued pre-acquisition costs	$ 15

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 1,943,383	$ 0
Other assets	15,770	0
Total Assets	1,959,153	0
Liabilities
Due to affiliates	8,670	0
Other liabilities	18,793	0
Total Liabilities	27,463	0
Commitments and Contingencies (Note 9)	0	0
Equity
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 100,649,905 issued and outstanding as of June 30, 2026	1,006	0
Additional paid-in capital	1,923,604	0
Retained earnings	7,080	0
Total Equity	1,931,690	0
Total Liabilities and Equity	$ 1,959,153	$ 0