RD Property LLC, a real estate investment and management company, today announced the expansion of its existing credit facility from $350 million to $420 million, representing a $70 million increase through the exercise of the facility’s accordion feature.
The expanded facility provides RD Property with additional financial flexibility and capacity to support its continued growth, including acquisitions, capital investment, redevelopment and other strategic initiatives across its diversified real estate portfolio.
As part of the expansion, Capital One, National Association has joined the lending group as a Joint Lead Arranger, alongside KeyBank, National Association; PNC Bank, National Association; Huntington National Bank and The Bank of New York Mellon, which are also serving as Joint Lead Arrangers.
“We are pleased to expand the facility to $420 million and welcome Capital One to the lending group,” said John Hayes, chief financial officer of RD Management LLC. “The increased capacity provides RD Property with additional flexibility to execute our business plan and pursue attractive opportunities across the portfolio.”
RD Property’s portfolio consists of approximately 51 properties totaling approximately four million square feet across the United States, including retail shopping centers, self-storage, hotel and net lease assets.
KeyBank, National Association also served as Administrative Agent.
