Four Springs increases revolving credit facility to $125 million

By Sarah Lizee

Olympia, Wash., Feb. 21 – Four Springs Capital Trust announced that it expanded its current three-year revolving credit facility to $125 million from $75 million.

The company has the ability to increase the credit facility by an additional $75 million to $200 million through an accordion feature.

M&T Bank and Provident Bank joined the company’s existing lending group of Citizens Bank, NA, Huntington Bank, Peapack-Gladstone Bank and Two River Community Bank.

“With this credit facility expansion, we now have access to additional capital to execute on our growth plans,” John Warch, chief financial officer of Four Springs, said in a news release.

“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.”

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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