Philadelphia-based REIT Independence Realty Trust has enhanced its financial position with a significant amendment to its unsecured credit facility, increasing its borrowing capacity and reducing borrowing costs.
On 8 January 2025, the REIT’s operating partnership finalised the amended agreement, raising the revolving credit line from USD500 million to USD750 million and extending its maturity from January 2026 to January 2029.
At the time of closing, USD214 million was outstanding under the revolver, with the additional funds intended for general corporate purposes.
Independence Realty Trust is an NYSE-listed REIT that owns and operates multifamily apartment properties across non-gateway US markets, including Atlanta, Louisville, Memphis, and Raleigh.
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