Bond Street REIT Expands Credit Line to $300 Million

JPMorgan Chase Bank led the upsize as administrative agent, joined by new participants KeyBank National Association, BMO Bank, and Banco Santander. These institutions now join SouthState Bank to form a five-member syndicate supporting the Charleston-based REIT. The facility remains well below its $600 million cap, providing the trust with significant leverage to pursue acquisitions in the Southeast, Southwest, and Midwest.

This capital infusion complements a $300 million equity commitment from Conversant Capital established last August. CEO Michael D. Reynolds noted that the expanded facility grants the firm the liquidity required to compete for convenience retail assets with increased speed and certainty. Since partnering with Conversant, the REIT has acquired 17 centers, growing its portfolio to nearly 1,000,000 square feet, while integrating ten legacy assets through UPREIT transactions with 22 more expected to follow.