Four Springs replaces revolvers with $75 million three-year revolver

By Angela McDaniels

Tacoma, Wash., Feb. 1 – Four Springs Capital Trust closed on a new $75 million revolving credit facility due Jan. 29, 2019, according to a company news release.

The revolver has a $75 million accordion feature.

The revolver replaces the company’s previous secured revolving credit facilities that totaled $25 million.

KeyBank Capital Markets Inc. is the lead arranger, and KeyBank NA is the administrative agent. Additional participants in the facility are Two River Community Bank and Peapack-Gladstone Bank.

The revolver will give the company increased flexibility and a reduced cost of capital to help it meet its targets of accelerating expansion of its real estate portfolio, according to the news release.

Four Springs is a Lake Como, N.J.-based real estate investment trust focused on retail, industrial/warehouse and health care properties that are net leased to investment-grade tenants.

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