ESCONDIDO, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Realty Income Corp. has expanded its unsecured acquisition credit facility from $1 billion to $1.5 billion. The company exercised the $500 million accordion expansion of the existing credit facility with its current bank lending group.
All other material business terms of the credit facility remain unchanged. The sole lead arranger for the credit facility is Wells Fargo Securities LLC. Bank of America N.A. and Regions Bank are co-syndication agents, and US Bank National Assoc., J.P. Morgan Chase Bank N.A., Royal Bank of Canada and The Bank of New York Mellon are co-documentation Agents.
The other participants in the credit facility are: Union Bank, N.A., Branch Banking and Trust Co., BBVA Compass Bank, PNC Bank, Raymond James, Capital One Bank, Sumitomo Mitsui and Comerica. The Administrative Agent for the credit facility is Wells Fargo Bank, N.A.
According to EVP, CFO and treasurer, Paul Meurer, the expansion “enhances our liquidity and financial flexibility and provides ready access to capital for our property acquisition efforts. This facility will provide us with the funds to continue to increase the size of our real estate portfolio, which is fundamental to our goal of regularly increasing the amount of the monthly dividend we pay to our shareholders.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
