Ladder Capital increases revolver to $324 million, improves pricing

By Wendy Van Sickle

Columbus, Ohio, July 28 – Ladder Capital Corp. upsized and extended its revolving credit facility and improved the borrowing cost, according to a news release on Thursday.

The total facility size was increased by more than 20% to $324 million, the maturity date was extended to 2027 and the borrowing cost was reduced by approximately 50 basis points to 250 bps over the index rate, the company said.

The amended facility allows for further spread reduction to 200 bps if certain credit rating criteria are met.

Ladder is a New York-based real estate investment trust.

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