Terreno Realty Corporation Closes $100 Million Five-Year Unsecured Term Loan
09/06/22, 1:27 PM
Location
bellevueMoney raised
$100 million
Industry
real estate
Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the closing of a new $100 million five-year unsecured term loan. The new five-year unsecured term loan will mature on January 15, 2028, and the interest rate generally will be SOFR plus 1.25% to 1.75%, depending on leverage. The current interest rate is SOFR plus 1.25%, and proceeds from the term loan were used to reduce borrowings under Terreno Realty Corporation’s $400 million revolving credit facility to $10 million.
Company Info
Location
bellevue, washington, united states
Additional Info
The acquired industrial property is located at 48-29 31st Place, Long Island City Queens, New York, adjacent to I-495 (Queens Midtown/Long Island Expressway) and approximately one mile from the Queens Midtown Tunnel. It comprises of one industrial distribution building with approximately 17,000 square feet on 0.4 acres, providing loading positions and parking for seven cars.