Nuveen Global Cities REIT expands credit facility to $455 million

By Wendy Van Sickle

Columbus, Ohio, Feb. 23 – Nuveen Global Cities REIT OP, LP, a wholly owned subsidiary of Nuveen Global Cities REIT, Inc., amended its credit agreement dated Oct. 24, 2018 with Wells Fargo Bank, NA as administrative agent and Wells Fargo Securities, LLC as lead arranger and bookrunner to increase the facility to $455 million, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility comprises a $321 million revolver and a $134 million delayed-draw term loan, with an up to $800 million accordion option.

In addition, the credit facility was amended to convert the base interest rate to SOFR from Libor, effective May 1.

The real estate investment trust company is based in New York.

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