J.P. Morgan Real Estate Income Trust, Inc.: debt financing — J.P. Morgan Real Estate Income Trust cuts credit facility to $8M, extends maturity to Aug 2024, margin up to 2.45%

J.P. Morgan Real Estate Income Trust, Inc.

Credit line reduced from $65M to $8M via amendment dated Aug 25, 2023.
Maturity extended to August 29, 2024; applicable margin raised to 2.45%.
U.S. Bank National Association remains sole lender with 100% commitment.
Borrower paid a 0.30% facility extension fee on the maximum commitment.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

J.P. Morgan Real Estate Income Trust, Inc. amended credit facility of up to $8,000,000 with U.S. Bank National Association at 2.45% maturing August 29, 2024.

Instrument: credit facility
Principal: up to $8,000,000
Counterparty: U.S. Bank National Association
Rate: 2.45%
Maturity: August 29, 2024
Event: amendment

Exact text from the filing

On August 25, 2023, the Credit Agreement was amended to (i) extend the maturity date to August 29, 2024, (ii) decrease the aggregate commitments from up to $65,000,000 to up to $8,000,000 and (iii) increase the applicable margin to 2.45%.

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Source: SEC EDGAR

accession 0000950170-23-045198

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