SAN FRANCISCO—Terreno Realty Corporation has completed the closing of a combined $200 million unsecured credit facility to replace its existing $150 million credit facility. The new credit facility is unsecured. Additional highlights are:
$50 Million Seven-Year Term Loan: The new seven-year unsecured term loan will mature on May 7, 2021 and the interest rate will be LIBOR plus 1.75% to 2.30%, depending on leverage. Terreno Realty Corporation will have up to six months to borrow the full $50 million.
$100 Million Credit Facility: The $100 million unsecured revolving credit facility maturity date was extended by two years to May 7, 2018. The interest rate decreased to LIBOR plus 1.50%-2.05% (previously 1.65% to 2.65%), depending on leverage.
$50 Million Five-Year Term Loan: The maturity date of the $50 million unsecured five-year term loan was extended by one year to May 7, 2019. The interest rate decreased to LIBOR plus 1.50%-2.05% (previously 1.65% to 2.65%), depending on leverage.
Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
