ExchangeRight REIT Increases Credit Facility, More Than Tripling Lender Commitments

PASADENA, Calif.--(BUSINESS WIRE)--ExchangeRight, one of the nation’s leading providers of diversified REIT and DST investments, has announced that the committed capacity for the Essential Income REIT’s revolving line of credit has increased from $185 million to $600 million, in keeping with the REIT’s continued growth. Wells Fargo serves as the lead arranger of the Credit Facility, with Fifth Third Bank, KeyBanc Capital Markets, and Truist Bank as joint lead arrangers, and including Synovus, First Horizon Bank, and Renasant Bank as additional lending participants.

The REIT’s expanded Credit Facility is structured to include Delayed Draw Term Loans that the REIT can draw upon, including up to $400 million over the next six months, and the total facility may be increased up to $1.0 billion in total credit, subject to receipt of commitments for the increased amount. The REIT anticipates utilizing the Credit Facility to finance permitted acquisitions as well as to support strategic refinancings, as needed.

This expansion of the Essential Income REIT’s Credit Facility promotes the execution of ExchangeRight’s aggregation strategy by greatly enhancing the company’s financing capacity and control over the REIT’s portfolio composition. In addition to providing increased flexibility for the Essential Income REIT’s ongoing operations, the expansion puts the REIT in a strong position toward its objective to become a long-term fixed-rate corporate bond issuer to further improve its cost of capital and enhance the REIT’s Adjusted Funds From Operations (“AFFO”) over time.

Joshua Ungerecht, a managing partner at ExchangeRight, explained that this expansion is not only a sign of confidence in the REIT’s investment strategy from major banking institutions, but directly supports the REIT’s future growth.

“In the face of ongoing market volatility, this remarkable expansion of the Essential Income REIT’s credit facility reflects tremendous confidence from some of the largest banks in the world in the strength of our platform and our long-term strategy,” said Ungerecht. “With this material increase to the REIT’s line of credit, which more than triples our existing lender commitments, we are excited to further scale and diversify the portfolio to protect investors' income across market cycles.” The past performance of the REIT is not a guarantee of future results.

About ExchangeRight’s Essential Income REIT

The Essential Income REIT, a Maryland statutory trust, is a self-administered real estate company, formed on January 11, 2019. The REIT is available to accredited investors only and focuses on investing in single-tenant, primarily investment-grade net-leased real estate. The REIT has fully covered its dividend with Adjusted Funds From Operations since its inception and through its most recently reported period. The past performance of the REIT is no guarantee of future results. The Company, through its operating partnership, ExchangeRight Income Fund Operating Partnership, LP, owns 397 properties in 37 states (collectively, the “Trust Properties”) as of March 31, 2026. The Trust Properties are occupied by 40 different primarily national investment-grade necessity-based retail tenants and are additionally diversified by industry, geographic region, lease term, and debt term. The Company has elected and is qualified to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. Please visit the REIT’s webpage to learn more. The past performance of the REIT and ExchangeRight does not guarantee future results.