Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
GTJ REIT, INC. incurred term loan of $125 million with American General Life Insurance Company at 6.12% per annum maturing April 1, 2031.
- Instrument
- term loan
- Principal
- $125 million
- Counterparty
- American General Life Insurance Company
- Rate
- 6.12% per annum
- Maturity
- April 1, 2031
- Event
- incurrence
Exact text from the filing
On March 15, 2024 (the “Closing Date”), certain indirect subsidiaries (collectively, the “Borrowers”) of GTJ REIT, Inc., a Maryland corporation (the “Company”), refinanced the current outstanding debt on certain properties (the “Refinancing”) by entering into a new loan agreement (the “Loan Agreement”) with American General Life Insurance Company as lender (the “Lender”). The Loan Agreement provides for a secured loan in the aggregate principal amount of $125 million (the “Loan Facility”). The Loan Facility is a seven-year term loan that requires the Borrowers to make payments based on a 30-year amortization schedule at the rate of 6.12% per annum with the entire principal balance plus any accrued and unpaid interest due and payable on April 1, 2031.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
GTJ REIT, INC. entered into Loan Agreement with American General Life Insurance Company valued at $125 million (effective 2024-03-15).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- American General Life Insurance Company
- Value
- $125 million
- Effective
- 2024-03-15
Exact text from the filing
On March 15, 2024 (the “Closing Date”), certain indirect subsidiaries (collectively, the “Borrowers”) of GTJ REIT, Inc., a Maryland corporation (the “Company”), refinanced the current outstanding debt on certain properties (the “Refinancing”) by entering into a new loan agreement (the “Loan Agreement”) with American General Life Insurance Company as lender (the “Lender”). The Loan Agreement provides for a secured loan in the aggregate principal amount of $125 million (the “Loan Facility”).
View on SEC.gov