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.