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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January&nbsp;2, 2019 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Rodin Global Property Trust, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Maryland</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">333-214130</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">81-1310268</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Numbers)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>110 E. 59th Street, New York, NY 10022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (212) <FONT STYLE="white-space:nowrap">938-5000</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9746; Emerging growth company </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9746; 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&nbsp;13(a) of the Exchange Act. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01. Other Events. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Preferred Equity Investment &#150; Denver, PA </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
January&nbsp;2, 2019, Rodin Global Property Trust, Inc. (the &#147;Company&#148;), through its operating partnership, made an investment, together with a subsidiary of the Company&#146;s sponsor, Cantor Fitzgerald Investors, LLC (&#147;CFI&#148;).
The investment was made through a single purpose limited liability entity, in which, as of January&nbsp;2, 2019, the Company owned 40.5% of the membership interests and CFI owned 59.5% of the membership interests (the &#147;Pennsylvania SPE&#148;).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Pennsylvania SPE entered into a joint venture agreement (the &#147;Pennsylvania JV&#148;) with a subsidiary of USRA Net Lease III Capital Corp.
(&#147;USRA&#148;). The Company and CFI, by and through the Pennsylvania SPE (collectively, the &#147;Preferred Member&#148;), invested $11,805,000 of capital in the Pennsylvania JV (the &#147;Preferred Equity&#148;). The Pennsylvania JV is the sole
member of an entity that purchased a cold storage and warehouse distribution facility located in Denver, Pennsylvania (the &#147;PA Property&#148;) for a purchase price of $117,050,000. The Company funded its portion of the purchase price through
the Pennsylvania JV with cash from its ongoing initial public offering. The acquisition of the PA Property by a subsidiary of the Pennsylvania JV was also financed by a mortgage loan in the amount of $76,732,500 (the &#147;PA Mortgage Loan&#148;)
provided by Goldman Sachs Mortgage Company (the &#147;PA Mortgage Lender&#148;). The PA Property was acquired from a third party that is not affiliated with the Company or CFI (the &#147;Pennsylvania Seller&#148;). USRA is also a third party that is
not affiliated with the Company or CFI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The PA Property is 100% leased to New Albertsons L.P., which is a subsidiary of Albertsons Companies Inc.
(&#147;Albertsons&#148;), which serves as the guarantor of the lease (the &#147;PA Property Lease&#148;). The PA Property Lease is a net lease whereby the tenant is responsible for operating expenses, real estate taxes, utilities, repairs,
maintenance and capital expenditures, in addition to its obligation to pay base rent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table provides certain information about the PA
Property Lease: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Rent Commencement Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Lease Expiration<BR>Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rentable</B><br><B>Square&nbsp;Feet</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year One Rent</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Tenant Renewal<BR>Options</B></P></TD></TR>


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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January&nbsp;2, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">January&nbsp;31,&nbsp;2039</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">1,757,005</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$<BR>&nbsp;<BR><BR></TD>
<TD VALIGN="top" ALIGN="right">7,312,183.00,<BR>subject to<BR>annual rent<BR>escalations.</TD>
<TD NOWRAP VALIGN="top">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">9&nbsp;extension&nbsp;options for 5 years each</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table provides certain information about the PA Mortgage Loan: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Original&nbsp;Loan&nbsp;Amount</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Annual<BR>Interest&nbsp;Rate</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Maturity&nbsp;Date</P></TD></TR>


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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">PA Mortgage Loan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">76,732,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.04</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">January&nbsp;6,&nbsp;2029</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends, but is not obligated, to purchase 100% of the membership interests of the Pennsylvania SPE from CFI.
Subject to the limitations in the Company&#146;s charter, the Company anticipates the purchase price for any membership interests purchased by the Company from CFI would be equal to CFI&#146;s purchase price in exchange for such membership
interests. On January&nbsp;4, 2019, the Company purchased an additional 4.9% of the Pennsylvania SPE&#146;s membership interests from CFI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lancaster
Grocery Property LLC (the &#147;PA Mortgage Borrower&#148;) pays only interest on a monthly basis <FONT STYLE="white-space:nowrap">(non-amortizing).</FONT> Commencing in the 13th month after loan origination, the PA Mortgage Loan may be prepaid
(a)&nbsp;subject to customary yield maintenance provisions prior to October&nbsp;6, 2028, and (b)&nbsp;without penalty on or after October&nbsp;6, 2028; provided that in each case </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the PA Mortgage Loan may be prepaid in whole, but not in part. During a &#147;Trigger Period&#148; under the PA Mortgage Loan, all excess cash flow that would otherwise be available to, and
distributable by, the PA Mortgage Borrower will be held by and for the benefit of the PA Mortgage Lender in a cash management account. During such Trigger Period, funds may not be available for payment of the Preferred Return (as described below).
Each of the following will cause a Trigger Period to commence under the PA Mortgage Loan: (a)&nbsp;an event of default by the PA Mortgage Borrower, in its capacity as landlord, under the PA Property Lease; (b)&nbsp;a bankruptcy or similar event with
respect to the tenant or guarantor under the PA Property Lease; (c)&nbsp;the tenant under the PA Property Lease vacates or ceases to occupy a substantial portion of the space demised to it, the tenant goes dark or otherwise discontinues its
operations at the space, in each case for more than 90 consecutive or 150 total days in any 12 month period (with certain exceptions); (d) if net operating income, as of certain measurement dates, is less than 80% of the net operating income of the
PA Property as of the PA Mortgage Loan closing date; or (f)&nbsp;if certain financial reports are not delivered by the PA Mortgage Borrower to the PA Mortgage Lender in accordance with the PA Mortgage Loan. The PA Mortgage Loan contains customary
events of default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If and to the extent there is cash available for distribution from the PA Property, the Preferred Member is entitled to an annual rate
of return on its Preferred Equity (the &#147;Preferred Return&#148;) that range from 7.75% in 2019 to 8.74% in 2028 (the &#147;Preferred Return Rate&#148;). On January&nbsp;1, 2029, and on January 1st of each succeeding calendar year, the Preferred
Return Rate will increase by 1% until such time as the Preferred Equity has been fully redeemed. The Preferred Return Rate is to be paid monthly from cash available for distribution prior to any distributions to any other member of the Pennsylvania
JV. If there is insufficient cash available for distribution in any given month to pay the Preferred Return Rate, then (1)&nbsp;no amounts will be distributed to any other member of the Pennsylvania JV, and (2)&nbsp;the deficiency will accrue and be
added to the outstanding amount of the Preferred Equity and will thereafter earn the Preferred Return Rate. Upon the occurrence of a sale or refinancing of the PA Property, or similar capital event, all net cash realized from such event will be paid
to the Preferred Member until such time as any unpaid Preferred Return and unreturned Preferred Equity amount have been paid in full to the Preferred Member. Only after the payment of such amounts (and certain other expenses) may the Pennsylvania JV
distribute to other members the net cash remaining from such a capital event. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A subsidiary of USRA, Lancaster Grocery Manager LLC, a Delaware limited
liability company (the&#147;Managing Member&#148;) is the other member, and manages the day to day affairs of the Pennsylvania JV, subject to customary major decision rights in favor of the Preferred Member. The Managing Member may cause the
Pennsylvania JV to redeem in full the Preferred Member&#146;s interest in the Pennsylvania JV at any time following the date that is 36 months after the effective date of the Pennsylvania JV (January 2, 2022) (the period preceding such date being
the <FONT STYLE="white-space:nowrap">&#147;Lock-Out</FONT> Period&#148;). Thereafter, redemption in full but not in part of the Preferred Member&#146;s interest is permitted. With certain exceptions, redemptions of the Preferred Member&#146;s
interest that occur prior to October&nbsp;6, 2028 (&#147;Par Redemption Date&#148;) require the payment to the Preferred Member of a &#147;Redemption Premium&#148; which is an amount equal to the then present value of the Preferred Return that would
have otherwise accrued through the Par Redemption Date, discounted using a discount rate equal to &#147;Treasury Constant Yields&#148; plus 1.0%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any
time after the occurrence of certain specified events which may impact the payment of the Preferred Return or otherwise adversely affect the Preferred Member&#146;s investment, the Preferred Member will have the power and authority, on behalf of the
Pennsylvania JV, to enter into and consummate a refinancing, sale, <FONT STYLE="white-space:nowrap">re-leasing</FONT> or similar capital event with respect to the PA Property. In lieu thereof, the Managing Member may elect to initiate a full
redemption of the Preferred Member&#146;s interest, irrespective of whether such election by Managing Member occurs either during or after the <FONT STYLE="white-space:nowrap">Lock-Out</FONT> Period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Preferred Member is not required to contribute any additional capital to the Pennsylvania JV but may elect to do so as a means of seeking to avoid
defaults under the PA Mortgage Loan and/or otherwise resolving certain issues that may arise with respect to the PA Property and potentially adversely affect the Preferred Member&#146;s investment. </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the Pennsylvania JV, the Preferred Member is also entitled to exercise certain rights and remedies
upon the occurrence of certain &#147;Events of Default&#148; thereunder. Such events include acts of fraud, intentional misrepresentation, failure to distribute cash available for distribution, and other bad acts by the Managing Member. The events
of default also include certain adverse events with respect to the Managing Member (such as a bankruptcy), the PA Property and/or PA Mortgage Borrower. Upon the occurrence of such events, the Preferred Member may (a)&nbsp;cause a full redemption of
its interest (for events other than an event of default under the PA Mortgage Loan), (b) remove the Managing Member and assume management control over the Pennsylvania JV and/or (c)&nbsp;make certain additional capital contributions and/or
protective advances to protect its interest. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Mezzanine Loan &#150; Melrose Park, IL </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;2, 2019, the Company, through its operating partnership, made an investment, together with CFI. The investment was made by the Company through
a single purpose limited liability entity, in which, as of January&nbsp;2, 2019, the Company owned 40.5% of the membership interests and CFI owned 59.5% of the membership interests (the &#147;Illinois SPE&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company, through an indirect subsidiary, the Illinois SPE, originated a fixed rate, subordinate mezzanine loan in the amount of $12,595,000 (the &#147;IL
Mezz B Loan&#148;) to Chicago Grocery Mezz B, LLC (the &#147;IL Mezz B Borrower&#148;), which is owned and controlled by USRA, for the acquisition of a cold storage and warehouse distribution facility located in Melrose Park, Illinois (the &#147;IL
Property&#148;) for a contract purchase price of $124,950,000. The Company funded its portion of the loan through the Illinois SPE with cash from its ongoing initial public offering. The acquisition of the IL Property was also financed by a mortgage
loan in the amount of $41,467,000 (the &#147;IL Mortgage Loan&#148;) provided by Goldman Sachs Mortgage Company (the &#147;IL Mortgage Lender&#148;), and a senior mezzanine loan in the amount of $40,467,500 (the &#147;IL Mezz A Loan&#148;) provided
by Mortgage Lender, in its capacity as the mezzanine lender (the &#147;IL Mezz A Lender&#148;). IL Mezz B Borrower owns 100% of the membership interests in Chicago Grocery Mezz A, LLC (&#147;IL Mezz A Borrower&#148;), which owns 100% of the
membership interest in Chicago Grocery Property, LLC (&#147;IL Property Owner&#148;), which owns the fee simple interest in the IL Property. The IL Property was acquired from a third party that is not affiliated with the Company or CFI (the
&#147;Illinois Seller&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The IL Property is 100% leased to New Albertsons L.P., which is a subsidiary of Albertsons, which serves as the guarantor
of the lease (the &#147;IL Property Lease&#148;). The IL Property Lease is a net lease whereby the tenant is responsible for operating expenses, real estate taxes, utilities, repairs, maintenance and capital expenditures, in addition to its
obligation to pay base rent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table provides certain information about the IL Property Lease: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Rent Commencement Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Lease&nbsp;Expiration<BR>Date</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rentable<BR>Square&nbsp;Feet</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year One Rent</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Tenant&nbsp;Renewal&nbsp;Options</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January&nbsp;2, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">January&nbsp;31,&nbsp;2039</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">1,561,613</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$<BR>&nbsp;<BR><BR></TD>
<TD VALIGN="top" ALIGN="right">7,808,065.00,<BR>subject to<BR>annual rent<BR>escalations</TD>
<TD NOWRAP VALIGN="top">&nbsp;<BR>&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;<BR></TD>
<TD VALIGN="top" ALIGN="right">9&nbsp;extension&nbsp;options<BR>for 5 years each</TD>
<TD NOWRAP VALIGN="top">&nbsp;<BR>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table provides certain information about the IL Mezz B Loan: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Original<BR>Loan&nbsp;Amount</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Annual Interest&nbsp;Rate<BR>Prior to Anticipated<BR>Repayment Date</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Applicable Interest&nbsp;Rate&nbsp;after Anticipated<BR>Repayment&nbsp;Date</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Anticipated<BR>Repayment Date</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Maturity Date</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IL Mezz B Loan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$</TD>
<TD VALIGN="top" ALIGN="right">12,595,000</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;<BR><BR></TD>
<TD VALIGN="top" ALIGN="right">Ranging&nbsp;from<BR>7.75%&nbsp;in&nbsp;2019<BR>to&nbsp;8.74%&nbsp;in&nbsp;2028.</TD>
<TD NOWRAP VALIGN="top">&nbsp;<BR>&nbsp;<BR>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;<BR><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman"></P></TD>
<TD VALIGN="top" ALIGN="right">Greater&nbsp;of: (i)&nbsp;10.75%,<BR>(ii)&nbsp;11.74%&nbsp;and<BR>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">(iii)&nbsp;5&nbsp;year&nbsp;Swap&nbsp;Rate&nbsp;plus&nbsp;8.82%.</P></TD>
<TD NOWRAP VALIGN="top">&nbsp;<BR><BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">January&nbsp;6,&nbsp;2029</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">January&nbsp;6,&nbsp;2034</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The IL Mortgage Loan and the IL Mezz A Loan both have the same anticipated repayment date and maturity date
as the IL Mezz B Loan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends, but is not obligated, to purchase 100% of the membership interests of the Illinois SPE from CFI. Subject to
the limitations in the Company&#146;s charter, the Company anticipates the purchase price for any membership interests purchased by the Company from CFI would be equal to CFI&#146;s purchase price in exchange for such membership interests. On
January&nbsp;4, 2019, the Company purchased an additional 4.9% of the Illinois SPE&#146;s membership interests CFI. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to the Anticipated Repayment
Date, the IL Mortgage, IL Mezz A and IL Mezz B Borrowers pay only interest on a monthly basis <FONT STYLE="white-space:nowrap">(non-amortizing).</FONT> Commencing in the 13th month after loan origination, the loans may be prepaid (a)&nbsp;subject to
customary yield maintenance provisions prior to October&nbsp;6, 2028, and (b)&nbsp;without penalty on or after October&nbsp;6, 2028; provided that in each case the loan may be prepaid in whole, but not in part and no portion of a mezzanine loan may
be prepaid without prepayment of the more senior loans. To the extent any of the loans have not been repaid by the Anticipated Repayment Date, excess cash flow from the Property will be applied to the repayment of the outstanding principal (in order
of priority &#150; first to the IL Mortgage Loan, then to the IL Mezz A Loan, and then to the IL Mezz B Loan). During a &#147;Trigger Period&#148; under the IL Mortgage Loan, all excess cash flow that would otherwise be available to, and
distributable by, the IL Mortgage Borrower will be held by and for the benefit of the IL Mortgage Lender in a cash management account. During such Trigger Period, the IL Mortgage Lender has agreed to permit the payment of interest on the IL Mezz A
Loan and IL Mezz B Loan, to the extent of available cash after payment of operating expenses and certain other amounts. Each of the following will cause a Trigger Period to commence under the IL Mortgage Loan: (a)&nbsp;an event of default by the
Mortgage Borrower, in its capacity as landlord, under the IL Property Lease; (b)&nbsp;a bankruptcy or similar event with respect to the tenant or guarantor under the IL Property Lease; (c)&nbsp;the tenant under the IL Property Lease vacates or
ceases to occupy a substantial portion of the space demised to it, the tenant goes dark or otherwise discontinues its operations at the space, in each case for more than 90 consecutive or 150 total days in any 12 month period (with certain
exceptions); (d) an event of default under the IL Mortgage Loan; (e)&nbsp;if net operating income, as of certain measurement dates, is less than 80% of the net operating income of the IL Property as of the loan closing date; and (f)&nbsp;if certain
financial reports are not delivered by the IL Mortgage Borrower to the IL Mortgage Lender in accordance with the IL Mortgage Loan. Each of the IL Mezz A Loan and IL Mezz B Loan contains similar and corresponding definitions of &#147;Trigger
Period&#148;, pursuant to which the subject lender would trap all excess cash flow derived from the Property and which would otherwise be available for distribution (with agreements among the lenders to permit the current payment of interest on each
loan to the extent of available cash). Each of the loans contains customary events of default. As is customary in such financings, if an event of default occurs under the subject loan, the lender may accelerate the repayment of the outstanding
principal amount and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the
origination of the Loan, the Illinois SPE, IL Mezz A Lender, and IL Mortgage Lender entered into an intercreditor agreement (the &#147;Intercreditor Agreement&#148;), dated as of January&nbsp;2, 2019. The Intercreditor Agreement specifies the time
and method by which the various secured parties may enforce their security interests in their respective collateral. In addition, the Intercreditor Agreement contains customary restrictions on modifications to the senior and mezzanine loan documents
and restrictions on the ability of the lenders to exercise overlapping consent rights. The Intercreditor Agreement also grants Illinois SPE the right to cure events of default under the IL Mezz A Loan and the IL Mortgage Loan and the right to
purchase the IL Mezz A Loan and the IL Mortgage Loan during the continuance of an event of the default under the IL Mezz A Loan and the IL Mortgage Loan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> contains forward-looking statements (such as those concerning the Company&#146;s intention regarding the purchase of 100% of the membership interests of the Pennsylvania SPE and Illinois SPE) that are based on
the Company&#146;s current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, the ability of the Company to effectuate the purchase of the remainder of such
interests, as well as those risks set forth in the &#147;Risk Factors&#148; section of the Company&#146;s Registration Statement on Form <FONT STYLE="white-space:nowrap">S-11,</FONT> as amended or supplemented by the Company&#146;s other filings
with the Securities and Exchange Commission. Although these forward-looking statements reflect management&#146;s belief as to future events, actual events or the Company&#146;s investments and actual results of operations could differ materially
from those expressed or implied in these forward-looking statements. To the extent that the Company&#146;s assumptions differ from actual results, the Company&#146;s ability to meet such forward-looking statements may be significantly hindered. You
are cautioned not to place undue reliance on any forward-looking statements. </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><B>RODIN GLOBAL PROPERTY TRUST, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: January&nbsp;8, 2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ KENNETH CARPENTER</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Kenneth Carpenter</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: President</TD></TR>
</TABLE>
</DIV></Center>

</BODY></HTML>
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{"company-data": {"conformed-name": "RODIN GLOBAL PROPERTY TRUST, INC.", "cik": "0001666244", "assigned-sic": "6798", "irs-number": "811310268", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-214130", "film-number": "19516664"}, "business-address": {"street1": "110 EAST 59TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-938-5000"}, "mail-address": {"street1": "110 EAST 59TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "RODIN GLOBAL ACCESS PROPERTY TRUST, INC.", "date-changed": "20160208"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): January 2, 2019
Rodin Global Property Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland
333-214130
81-1310268
(State or other jurisdiction
of incorporation)
(Commission
File Numbers)
(IRS Employer
Identification No.)
110 E. 59th Street, New York, NY 10022
(Address of principal executive offices)
Registrant's telephone number, including area code: (212)
938-5000
(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 (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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).
☒ 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.
Item 8.01. Other Events.
Preferred Equity Investment – Denver, PA
On
January 2, 2019, Rodin Global Property Trust, Inc. (the "Company"), through its operating partnership, made an investment, together with a subsidiary of the Company's sponsor, Cantor Fitzgerald Investors, LLC ("CFI").
The investment was made through a single purpose limited liability entity, in which, as of January 2, 2019, the Company owned 40.5% of the membership interests and CFI owned 59.5% of the membership interests (the "Pennsylvania SPE").
The Pennsylvania SPE entered into a joint venture agreement (the "Pennsylvania JV") with a subsidiary of USRA Net Lease III Capital Corp.
("USRA"). The Company and CFI, by and through the Pennsylvania SPE (collectively, the "Preferred Member"), invested $11,805,000 of capital in the Pennsylvania JV (the "Preferred Equity"). The Pennsylvania JV is the sole
member of an entity that purchased a cold storage and warehouse distribution facility located in Denver, Pennsylvania (the "PA Property") for a purchase price of $117,050,000. The Company funded its portion of the purchase price through
the Pennsylvania JV with cash from its ongoing initial public offering. The acquisition of the PA Property by a subsidiary of the Pennsylvania JV was also financed by a mortgage loan in the amount of $76,732,500 (the "PA Mortgage Loan")
provided by Goldman Sachs Mortgage Company (the "PA Mortgage Lender"). The PA Property was acquired from a third party that is not affiliated with the Company or CFI (the "Pennsylvania Seller"). USRA is also a third party that is
not affiliated with the Company or CFI.
The PA Property is 100% leased to New Albertsons L.P., which is a subsidiary of Albertsons Companies Inc.
("Albertsons"), which serves as the guarantor of the lease (the "PA Property Lease"). The PA Property Lease is a net lease whereby the tenant is responsible for operating expenses, real estate taxes, utilities, repairs,
maintenance and capital expenditures, in addition to its obligation to pay base rent.
The following table provides certain information about the PA
Property Lease:
Rent Commencement Date
Lease Expiration
Date
Rentable
Square Feet
Year One Rent
Tenant Renewal
Options
January 2, 2019
January 31, 2039
1,757,005
$
7,312,183.00,
subject to
annual rent
escalations.
9 extension options for 5 years each
The following table provides certain information about the PA Mortgage Loan:
Original Loan Amount
Annual
Interest Rate
Maturity Date
PA Mortgage Loan
$
76,732,500
5.04
%
January 6, 2029
The Company intends, but is not obligated, to purchase 100% of the membership interests of the Pennsylvania SPE from CFI.
Subject to the limitations in the Company's charter, the Company anticipates the purchase price for any membership interests purchased by the Company from CFI would be equal to CFI's purchase price in exchange for such membership
interests. On January 4, 2019, the Company purchased an additional 4.9% of the Pennsylvania SPE's membership interests from CFI.
Lancaster
Grocery Property LLC (the "PA Mortgage Borrower") pays only interest on a monthly basis
(non-amortizing).
Commencing in the 13th month after loan origination, the PA Mortgage Loan may be prepaid
(a) subject to customary yield maintenance provisions prior to October 6, 2028, and (b) without penalty on or after October 6, 2028; provided that in each case
the PA Mortgage Loan may be prepaid in whole, but not in part. During a "Trigger Period" under the PA Mortgage Loan, all excess cash flow that would otherwise be available to, and
distributable by, the PA Mortgage Borrower will be held by and for the benefit of the PA Mortgage Lender in a cash management account. During such Trigger Period, funds may not be available for payment of the Preferred Return (as described below).
Each of the following will cause a Trigger Period to commence under the PA Mortgage Loan: (a) an event of default by the PA Mortgage Borrower, in its capacity as landlord, under the PA Property Lease; (b) a bankruptcy or similar event with
respect to the tenant or guarantor under the PA Property Lease; (c) the tenant under the PA Property Lease vacates or ceases to occupy a substantial portion of the space demised to it, the tenant goes dark or otherwise discontinues its
operations at the space, in each case for more than 90 consecutive or 150 total days in any 12 month period (with certain exceptions); (d) if net operating income, as of certain measurement dates, is less than 80% of the net operating income of the
PA Property as of the PA Mortgage Loan closing date; or (f) if certain financial reports are not delivered by the PA Mortgage Borrower to the PA Mortgage Lender in accordance with the PA Mortgage Loan. The PA Mortgage Loan contains customary
events of default.
If and to the extent there is cash available for distribution from the PA Property, the Preferred Member is entitled to an annual rate
of return on its Preferred Equity (the "Preferred Return") that range from 7.75% in 2019 to 8.74% in 2028 (the "Preferred Return Rate"). On January 1, 2029, and on January 1st of each succeeding calendar year, the Preferred
Return Rate will increase by 1% until such time as the Preferred Equity has been fully redeemed. The Preferred Return Rate is to be paid monthly from cash available for distribution prior to any distributions to any other member of the Pennsylvania
JV. If there is insufficient cash available for distribution in any given month to pay the Preferred Return Rate, then (1) no amounts will be distributed to any other member of the Pennsylvania JV, and (2) the deficiency will accrue and be
added to the outstanding amount of the Preferred Equity and will thereafter earn the Preferred Return Rate. Upon the occurrence of a sale or refinancing of the PA Property, or similar capital event, all net cash realized from such event will be paid
to the Preferred Member until such time as any unpaid Preferred Return and unreturned Preferred Equity amount have been paid in full to the Preferred Member. Only after the payment of such amounts (and certain other expenses) may the Pennsylvania JV
distribute to other members the net cash remaining from such a capital event.
A subsidiary of USRA, Lancaster Grocery Manager LLC, a Delaware limited
liability company (the"Managing Member") is the other member, and manages the day to day affairs of the Pennsylvania JV, subject to customary major decision rights in favor of the Preferred Member. The Managing Member may cause the
Pennsylvania JV to redeem in full the Preferred Member's interest in the Pennsylvania JV at any time following the date that is 36 months after the effective date of the Pennsylvania JV (January 2, 2022) (the period preceding such date being
the
"Lock-Out
Period"). Thereafter, redemption in full but not in part of the Preferred Member's interest is permitted. With certain exceptions, redemptions of the Preferred Member's
interest that occur prior to October 6, 2028 ("Par Redemption Date") require the payment to the Preferred Member of a "Redemption Premium" which is an amount equal to the then present value of the Preferred Return that would
have otherwise accrued through the Par Redemption Date, discounted using a discount rate equal to "Treasury Constant Yields" plus 1.0%.
At any
time after the occurrence of certain specified events which may impact the payment of the Preferred Return or otherwise adversely affect the Preferred Member's investment, the Preferred Member will have the power and authority, on behalf of the
Pennsylvania JV, to enter into and consummate a refinancing, sale,
re-leasing
or similar capital event with respect to the PA Property. In lieu thereof, the Managing Member may elect to initiate a full
redemption of the Preferred Member's interest, irrespective of whether such election by Managing Member occurs either during or after the
Lock-Out
Period.
The Preferred Member is not required to contribute any additional capital to the Pennsylvania JV but may elect to do so as a means of seeking to avoid
defaults under the PA Mortgage Loan and/or otherwise resolving certain issues that may arise with respect to the PA Property and potentially adversely affect the Preferred Member's investment.
Under the Pennsylvania JV, the Preferred Member is also entitled to exercise certain rights and remedies
upon the occurrence of certain "Events of Default" thereunder. Such events include acts of fraud, intentional misrepresentation, failure to distribute cash available for distribution, and other bad acts by the Managing Member. The events
of default also include certain adverse events with respect to the Managing Member (such as a bankruptcy), the PA Property and/or PA Mortgage Borrower. Upon the occurrence of such events, the Preferred Member may (a) cause a full redemption of
its interest (for events other than an event of default under the PA Mortgage Loan), (b) remove the Managing Member and assume management control over the Pennsylvania JV and/or (c) make certain additional capital contributions and/or
protective advances to protect its interest.
Mezzanine Loan – Melrose Park, IL
On January 2, 2019, the Company, through its operating partnership, made an investment, together with CFI. The investment was made by the Company through
a single purpose limited liability entity, in which, as of January 2, 2019, the Company owned 40.5% of the membership interests and CFI owned 59.5% of the membership interests (the "Illinois SPE").
The Company, through an indirect subsidiary, the Illinois SPE, originated a fixed rate, subordinate mezzanine loan in the amount of $12,595,000 (the "IL
Mezz B Loan") to Chicago Grocery Mezz B, LLC (the "IL Mezz B Borrower"), which is owned and controlled by USRA, for the acquisition of a cold storage and warehouse distribution facility located in Melrose Park, Illinois (the "IL
Property") for a contract purchase price of $124,950,000. The Company funded its portion of the loan through the Illinois SPE with cash from its ongoing initial public offering. The acquisition of the IL Property was also financed by a mortgage
loan in the amount of $41,467,000 (the "IL Mortgage Loan") provided by Goldman Sachs Mortgage Company (the "IL Mortgage Lender"), and a senior mezzanine loan in the amount of $40,467,500 (the "IL Mezz A Loan") provided
by Mortgage Lender, in its capacity as the mezzanine lender (the "IL Mezz A Lender"). IL Mezz B Borrower owns 100% of the membership interests in Chicago Grocery Mezz A, LLC ("IL Mezz A Borrower"), which owns 100% of the
membership interest in Chicago Grocery Property, LLC ("IL Property Owner"), which owns the fee simple interest in the IL Property. The IL Property was acquired from a third party that is not affiliated with the Company or CFI (the
"Illinois Seller").
The IL Property is 100% leased to New Albertsons L.P., which is a subsidiary of Albertsons, which serves as the guarantor
of the lease (the "IL Property Lease"). The IL Property Lease is a net lease whereby the tenant is responsible for operating expenses, real estate taxes, utilities, repairs, maintenance and capital expenditures, in addition to its
obligation to pay base rent.
The following table provides certain information about the IL Property Lease:
Rent Commencement Date
Lease Expiration
Date
Rentable
Square Feet
Year One Rent
Tenant Renewal Options
January 2, 2019
January 31, 2039
1,561,613
$
7,808,065.00,
subject to
annual rent
escalations
9 extension options
for 5 years each
The following table provides certain information about the IL Mezz B Loan:
Original
Loan Amount
Annual Interest Rate
Prior to Anticipated
Repayment Date
Applicable Interest Rate after Anticipated
Repayment Date
Anticipated
Repayment Date
Maturity Date
IL Mezz B Loan
$
12,595,000
Ranging from
7.75% in 2019
to 8.74% in 2028.
Greater of: (i) 10.75%,
(ii) 11.74% and
(iii) 5 year Swap Rate plus 8.82%.
January 6, 2029
January 6, 2034
The IL Mortgage Loan and the IL Mezz A Loan both have the same anticipated repayment date and maturity date
as the IL Mezz B Loan.
The Company intends, but is not obligated, to purchase 100% of the membership interests of the Illinois SPE from CFI. Subject to
the limitations in the Company's charter, the Company anticipates the purchase price for any membership interests purchased by the Company from CFI would be equal to CFI's purchase price in exchange for such membership interests. On
January 4, 2019, the Company purchased an additional 4.9% of the Illinois SPE's membership interests CFI.
Prior to the Anticipated Repayment
Date, the IL Mortgage, IL Mezz A and IL Mezz B Borrowers pay only interest on a monthly basis
(non-amortizing).
Commencing in the 13th month after loan origination, the loans may be prepaid (a) subject to
customary yield maintenance provisions prior to October 6, 2028, and (b) without penalty on or after October 6, 2028; provided that in each case the loan may be prepaid in whole, but not in part and no portion of a mezzanine loan may
be prepaid without prepayment of the more senior loans. To the extent any of the loans have not been repaid by the Anticipated Repayment Date, excess cash flow from the Property will be applied to the repayment of the outstanding principal (in order
of priority – first to the IL Mortgage Loan, then to the IL Mezz A Loan, and then to the IL Mezz B Loan). During a "Trigger Period" under the IL Mortgage Loan, all excess cash flow that would otherwise be available to, and
distributable by, the IL Mortgage Borrower will be held by and for the benefit of the IL Mortgage Lender in a cash management account. During such Trigger Period, the IL Mortgage Lender has agreed to permit the payment of interest on the IL Mezz A
Loan and IL Mezz B Loan, to the extent of available cash after payment of operating expenses and certain other amounts. Each of the following will cause a Trigger Period to commence under the IL Mortgage Loan: (a) an event of default by the
Mortgage Borrower, in its capacity as landlord, under the IL Property Lease; (b) a bankruptcy or similar event with respect to the tenant or guarantor under the IL Property Lease; (c) the tenant under the IL Property Lease vacates or
ceases to occupy a substantial portion of the space demised to it, the tenant goes dark or otherwise discontinues its operations at the space, in each case for more than 90 consecutive or 150 total days in any 12 month period (with certain
exceptions); (d) an event of default under the IL Mortgage Loan; (e) if net operating income, as of certain measurement dates, is less than 80% of the net operating income of the IL Property as of the loan closing date; and (f) if certain
financial reports are not delivered by the IL Mortgage Borrower to the IL Mortgage Lender in accordance with the IL Mortgage Loan. Each of the IL Mezz A Loan and IL Mezz B Loan contains similar and corresponding definitions of "Trigger
Period", pursuant to which the subject lender would trap all excess cash flow derived from the Property and which would otherwise be available for distribution (with agreements among the lenders to permit the current payment of interest on each
loan to the extent of available cash). Each of the loans contains customary events of default. As is customary in such financings, if an event of default occurs under the subject loan, the lender may accelerate the repayment of the outstanding
principal amount and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period.
In connection with the
origination of the Loan, the Illinois SPE, IL Mezz A Lender, and IL Mortgage Lender entered into an intercreditor agreement (the "Intercreditor Agreement"), dated as of January 2, 2019. The Intercreditor Agreement specifies the time
and method by which the various secured parties may enforce their security interests in their respective collateral. In addition, the Intercreditor Agreement contains customary restrictions on modifications to the senior and mezzanine loan documents
and restrictions on the ability of the lenders to exercise overlapping consent rights. The Intercreditor Agreement also grants Illinois SPE the right to cure events of default under the IL Mezz A Loan and the IL Mortgage Loan and the right to
purchase the IL Mezz A Loan and the IL Mortgage Loan during the continuance of an event of the default under the IL Mezz A Loan and the IL Mortgage Loan.
Forward-Looking Statements
This Current Report on Form
8-K
contains forward-looking statements (such as those concerning the Company's intention regarding the purchase of 100% of the membership interests of the Pennsylvania SPE and Illinois SPE) that are based on
the Company's current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, the ability of the Company to effectuate the purchase of the remainder of such
interests, as well as those risks set forth in the "Risk Factors" section of the Company's Registration Statement on Form
S-11,
as amended or supplemented by the Company's other filings
with the Securities and Exchange Commission. Although these forward-looking statements reflect management's belief as to future events, actual events or the Company's investments and actual results of operations could differ materially
from those expressed or implied in these forward-looking statements. To the extent that the Company's assumptions differ from actual results, the Company's ability to meet such forward-looking statements may be significantly hindered. You
are cautioned not to place undue reliance on any forward-looking statements.
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.
RODIN GLOBAL PROPERTY TRUST, INC.
Date: January 8, 2019
By:
/s/ KENNETH CARPENTER
Name: Kenneth Carpenter
Title: President