Drawbridge Secures $150M Revolving Credit Facility

SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that locally based  Drawbridge Realty Trust LLC has secured a $150 million revolving credit facility with Cleveland-based KeyBank National Association as the lead arranger and administrative agent. Co-participants on the credit facility include Wells Fargo Bank, National Association; US Bank, National Association; BMO Harris Bank, National Association; and City National Bank. 

The credit facility provides Drawbridge with low cost debt capital for new acquisitions, and when combined with the recent $150 million equity investment from New York City-based Almanac Realty Investors, it further enables the company to expand its 2-million-square-foot commercial real estate portfolio, according to a prepared statement.