Four Springs Capital Trust announced today that it has expanded its current three-year revolving credit facility from $75 million to $125 million, with the ability to increase the credit facility by an additional $75 million to $200 million through an accordion feature. Leading commercial banks M&T Bank and Provident Bank joined the companys existing lending group of Citizens Bank, N.A., Huntington Bank, Peapack-Gladstone Bank and Two River Community Bank.
We are very pleased to have six commercial banks provide a vote of confidence on the strength of our balance sheet, our underwriting and due diligence processes, and our overall corporate strategy, said John Warch, Chief Financial Officer of Four Springs Capital Trust. With this credit facility expansion, we now have access to additional capital to execute on our growth plans. The additional buying power will provide us with added financial flexibility, more efficient cash management and the ability to manage interest rate risk as we build out our portfolio of net leased properties.
As of December 31, 2018, Four Springs Capital Trust owned 87 properties in 29 states, leased to 39 tenants. The companys $353 million portfolio is diversified by industrial, medical, retail and office properties, and is 100% occupied.
About Four Springs Capital Trust:
Four Springs Capital Trust is a private, internally managed real estate investment trust focused on acquiring a diversified portfolio of industrial, medical, retail and office properties net leased to investment grade and other creditworthy tenants under long-term leases.
Four Springs Capital Markets
Eric Paul, (732) 749-7330