IPC Alternative Real Estate Income Trust, Inc.: debt financing — IPC Alternative Real Estate Income Trust enters $22.5M revolving credit facility and declares $0.0885 dividend

IPC Alternative Real Estate Income Trust, Inc.

Entered into $22.5M revolving credit facility with Inland Private Capital Corporation as lender, maturing November 30, 2024.
Credit facility bears interest at 4.25% per annum, increasing to 9.25% upon default.
Board authorized distribution of $0.0885 per share on Class I common stock, payable Nov 3, 2023 to holders of record Oct 31, 2023.
Operating Partnership as borrower, with IPC Alternative Real Estate Income Trust as general partner.

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

IPC Alternative Real Estate Income Trust, Inc. incurred revolving credit of $22.5 million with Inland Private Capital Corporation at 4.25% per annum maturing November 30, 2024.

Instrument: revolving credit
Principal: $22.5 million
Counterparty: Inland Private Capital Corporation
Rate: 4.25% per annum
Maturity: November 30, 2024
Event: incurrence

Exact text from the filing

Private Capital Corporation (“IPC”), an affiliate with the Company’s sponsor, as lender. The Credit Facility provides for loan advances in an aggregate amount not to exceed $22.5 million, with a maturity date of November 30, 2024 (as may be amended, modified, extended or renewed, but not accelerated, in IPC’s sole discretion) or the date IPC declares obligations

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Source: SEC EDGAR

accession 0000950170-23-056373

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