Funds will be used to refinance the REIT’s existing loan facilities. Structured as a three-year term and revolving credit facilities, the manager says this will allow it to “efficiently manage its working capital”.
The manager of Elite Commercial REIT has obtained refinancing of up to GBP135 million ($229.66 million) from a group of financial institutions.
While the manager did not disclose the lenders in a March 4 bourse filing, it says the “new lending relationships” were sourced through the REIT’s sponsors.
