LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust (“FSCT” or the “Company”) announced today that it closed on an acquisition Line of Credit with Peapack-Gladstone Bank, Princeton, New Jersey, in the amount of $15,000,000.
“This facility, which increases our available lines of credit from $10 million to $25 million, represents a significant milestone in the growth of our company. The flexibility, liquidity, and favorable cost of capital the facility provides will allow us to considerably increase our volume of property acquisitions within the retail, office, healthcare and industrial sectors of the real estate market,” said William Dioguardi, Chief Executive Officer of FSCT.
“The new line of credit will be instrumental as we continue to build our acquisition pipeline by funding properties currently under contract and those that we are considering,” said Cynthia Daly, Director of Acquisitions of FSCT.
Four Springs Capital Trust is a private real estate investment trust focused on establishing a diversified portfolio of properties net leased to investment grade and other creditworthy tenants under long-term leases.
For more information about this announcement, please contact John Warch, Chief Financial Officer, at the Company at 877-449-8828 or email@example.com.