Southern Realty Trust Announces the Closing of Up to $200 Million Revolving Credit Facility with Initial $50 Million Commitment from East West Bank
30 Janeiro 2025 - 10:00AM
Southern Realty Trust Inc. (“SRT” or the “Company”), part of TCG
Real Estate, today announced that it closed a senior secured
revolving credit facility (“Credit Facility”), with East West Bank
serving as agent and providing an initial commitment of $50
million, with the ability to expand to $200 million, subject to
certain conditions and lender participation. Proceeds will support
unfunded commitments under existing loans, new commercial real
estate (“CRE”) loan originations aligned with SRT’s strategy, and
general corporate purposes.
The three-year facility – maturing January 2028 – features
favorable terms including an interest rate of SOFR plus 2.75% (with
a 2.63% SOFR floor). As part of SRT’s growth strategy, the Credit
Facility strengthens the Company’s financial flexibility to pursue
strategic initiatives and accelerate investments in high-quality
CRE projects across the Southern U.S.
"Closing this credit facility with East West Bank marks a key
milestone for SRT,” said Brian Sedrish, Chief Executive Officer of
SRT. “With $50 million in initial funding and ability to grow to
$200 million, this facility enables us to act decisively on
high-quality investment opportunities, aligning with our strategy
to build a resilient, high-performing portfolio that creates
long-term value for our investors.”
About Southern Realty Trust Inc.
SRT was formed in 2023 to originate commercial real estate debt
investments in the Southern U.S. and provide capital to
high-quality borrowers and sponsors with transitional business
plans collateralized by top-tier CRE assets with opportunities for
near-term value creation, as well as recapitalization
opportunities. SRT intends to create a diversified investment
portfolio, targeting first mortgages, B-notes, mezzanine loans and
debt-like preferred securities across CRE asset classes. For
additional information regarding the Company, please visit:
www.theSRTgroup.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt
funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty
Trust, Inc. (NASDAQ: SUNS), and private mortgage REIT, Southern
Realty Trust, Inc. The funds provide flexible financing on
transitional CRE properties that present opportunities for
near-term value creation, with a focus on top-tier CRE assets in
primary and secondary metropolitan areas of the Southern U.S.
Forward-Looking Statements
Certain statements contained in this press release, including
those that express a belief, expectation or intention, as well as
those that are not statements of historical fact, are
forward-looking statements. The Company’s forward-looking
statements are generally accompanied by words such as “intend,”
“will,” “estimate,” “project,” “predict,” “believe,” “expect,”
“anticipate,” “potential,” “plan,” “goal” or other words that
convey the uncertainty of future events or outcomes. Statements,
among others, relating to the Company’s beliefs with respect to the
Credit Facility, the Company’s anticipated investments and the
ability to expand the Credit Facility. Forward-looking statements
contained in this press release speak only as of the date of this
press release. The Company disclaims any obligation to update these
statements unless required by law, and the Company cautions you not
to rely on them unduly. The Company has based these forward-looking
statements on its current expectations and assumptions about future
events, which the Company considers reasonable. However, these
forward-looking statements are inherently subject to significant
business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to
predict and beyond the Company’s control. Actual results and
performance in the future could differ materially from those set
forth in or implied by such forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum561-510-2293 ir@thetcg.com
Media Contact:
Profile AdvisorsRich Myers & Rachel
Goun347-774-1125srt@profileadvisors.com
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