Necessity Retail REIT draws $170 million under credit facility

By Marisa Wong

Los Angeles, Feb. 14 – Necessity Retail REIT, Inc., through operating partnership Necessity Retail REIT Operating Partnership, LP, drew $170 million under its credit facility with BMO Harris Bank, NA, according to an 8-K filing with the Securities and Exchange Commission.

Loan proceeds were used to help fund an acquisition of 44 properties from subsidiaries of CIM Real Estate Finance Trust, Inc.

The real estate investment trust is based in New York.

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