LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust announced today that it has closed on a new revolving credit facility with a total commitment of $75 million with an additional $75 million accordion expansion feature which will increase the facility size to $150 million. The initial term of the new facility is three years maturing January 29, 2019. It replaces the company’s previous secured revolving credit facilities which totaled $25 million.
KeyBank Capital Markets Inc. is acting as Lead Arranger and KeyBank National Association is Administrative Agent. Additional participants in the facility are Two River Community Bank and Peapack-Gladstone Bank.
“Four Springs values the support of its new and long-time banking partners, and their confidence in our prospects for continued growth and future performance,” said John Warch, Chief Financial Officer of Four Springs Capital Trust.
“The closing of this facility marks a milestone in Four Springs’ progress. It will provide the company with increased flexibility and a reduced cost of capital which will be instrumental in meeting our targets of accelerating expansion of our real estate portfolio,” said William Dioguardi, Chief Executive Officer of Four Springs Capital Trust. “It greatly increases our ability to take advantage of favorable acquisition opportunities as they arise and will be instrumental to Four Springs’ growth trajectory.”
About Four Springs Capital Trust
Four Springs Capital Trust is a private real estate investment trust focused on acquiring a diversified portfolio of retail, industrial/warehouse and healthcare properties net leased to investment grade and other creditworthy tenants under long-term leases.