Recreational Realty gets secured revolver for up to $300 million

By Mary-Katherine Stinson

Lexington, Ky., April 18 – Recreational Realty LLC secured a syndicated revolving credit facility led by Truist Securities and Citizens Bank allowing the company to borrow up to $300 million assuming certain conditions are met, according to a press release.

Proceeds will be used to finance future acquisitions and support development initiatives while the company broadens its service offerings.

"This new facility gives us substantial liquidity at attractive interest rates to fund both acquisition and development efforts, solidifying our leading position in the industry," founder and chief executive officer Gary Wojtaszek said in the press release.

Truist Securities will serve as administrative agent on the transaction.

Citizens Bank is the syndication agent.

Haynes Boone acted as legal counsel to the company and Holland & Knight LLP acted as legal counsel for the banking group.

Recreational Realty acquires, builds and manages specialized RV and boat storage facilities across the United States. The company is based in Dallas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.