Core Viewpoint - Southern Realty Trust Inc. has successfully closed a senior secured revolving credit facility with East West Bank, initially committing 200 million, aimed at supporting its commercial real estate strategies and general corporate purposes [1][2][3]. Group 1: Credit Facility Details - The credit facility is structured as a three-year agreement maturing in January 2028, featuring an interest rate of SOFR plus 2.75%, with a SOFR floor of 2.63% [2]. - The facility enhances the company's financial flexibility, allowing it to pursue strategic initiatives and accelerate investments in high-quality commercial real estate projects across the Southern U.S. [2][3]. Group 2: Company Strategy and Goals - The CEO of Southern Realty Trust Inc. emphasized that the credit facility represents a significant milestone, enabling the company to capitalize on high-quality investment opportunities and build a resilient, high-performing portfolio for long-term value creation [3]. - Southern Realty Trust Inc. was established in 2023 to focus on originating commercial real estate debt investments in the Southern U.S., targeting first mortgages, B-notes, mezzanine loans, and debt-like preferred securities across various asset classes [3]. Group 3: Parent Company Overview - Southern Realty Trust Inc. is part of TCG Real Estate, which includes affiliated CRE-focused debt funds, such as the Nasdaq-listed Sunrise Realty Trust, Inc. and private mortgage REITs [4]. - TCG Real Estate aims to provide flexible financing for transitional commercial real estate properties that offer near-term value creation opportunities, focusing on top-tier assets in major metropolitan areas of the Southern U.S. [4].
Southern Realty Trust Announces the Closing of Up to $200 Million Revolving Credit Facility with Initial $50 Million Commitment from East West Bank