---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-163165"
form_type: "8-K"
ticker: null
cik: "0001771514"
company_name: "ExchangeRight Income Fund"
filed_at: "2026-04-20T23:59:59+00:00"
generated_at: "2026-05-15T05:20:58.139314+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ExchangeRight Income Fund secures $600M credit facility, replaces prior debt

## Summary
- Amended credit agreement provides $200M revolver and $400M delayed draw term loan, with potential to increase to $1B.
- Initial draw of $157.4M under DDTL; revolver undrawn at closing.
- Prior credit agreement terminated; new facilities mature April 2029, with two 12-month extension options.
- Financial covenants include max total leverage 0.60x, secured leverage 0.45x (decreasing to 0.40x), and tangible net worth floor of $657.8M.
- Proceeds to finance acquisitions, repay debt, capex, working capital, and general corporate purposes.

## SEC filing metadata
- accession: 0001193125-26-163165
- form_type: 8-K
- cik: 0001771514
- company_name: ExchangeRight Income Fund
- filed_at: 2026-04-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1771514/000119312526163165/0001193125-26-163165-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1771514/000119312526163165/none-20260415.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-163165
- JSON: https://secwatch.observer/filing/0001193125-26-163165.json
- Plain text: https://secwatch.observer/filing/0001193125-26-163165.txt

## Source-grounded claims
- claim_id: e7a3b92f4ae545954ce06b9a304c76a11df7104f
  claim: ExchangeRight Income Fund incurred credit facility of revolving credit facility in initial maximum principal amount of $200,000,000 and delayed draw term loan facility in ini with Wells Fargo Bank, National Association, as administrative agent and a lender, and the other financial institutions party to the Amended Credit Agreement and their assignees, as lenders at initial applicable margin for revolving loans: base rate loans 1.15%, SOFR loans maturing April 15, 2029, subject to two extension options of 12 months each.
  evidence_excerpt: On April 15, 2026, ExchangeRight Income Fund Operating Partnership, LP, as borrower (the “ Borrower ”), and ExchangeRight Income Fund, doing business as ExchangeRight Essential Income REIT (the “ Company ”), entered into an Amended and Restated Credit Agreement (the “ Amended Credit Agreement ”) with Wells Fargo Bank, National Association, as administrative agent and a lender (“ Wells Fargo ” or the “ Administrative Agent ”), the other financial institutions party to the Amended Credit Agreement and their assignees, as lenders (collectively with Wells Fargo, the “ Lenders ”), and the arrangers, bookrunners, and documentation agents party thereto, pursuant to which the Lenders agreed to provide to the Borrower senior secured credit facilities consisting of a revolving credit facility (the “ Revolving Credit Facility ”) in the initial maximum principal amount of $200,000,000 until April 15, 2029 (the “ Revolving Termination Date ”), and a delayed draw term loan facility (the “ DDTL Facil
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771514/000119312526163165/0001193125-26-163165-index.htm
- claim_id: 1bd80a629ce62dc608d3d4cd574cc44942cb9025
  claim: ExchangeRight Income Fund amended Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent and a lender, and the other financial institutions party thereto valued at initial maximum principal amount of $200,000,000 and $400,000,000 (effective 2026-04-15).
  evidence_excerpt: On April 15, 2026, ExchangeRight Income Fund Operating Partnership, LP, as borrower (the “ Borrower ”), and ExchangeRight Income Fund, doing business as ExchangeRight Essential Income REIT (the “ Company ”), entered into an Amended and Restated Credit Agreement (the “ Amended Credit Agreement ”) with Wells Fargo Bank, National Association, as administrative agent and a lender (“ Wells Fargo ” or the “ Administrative Agent ”), the other financial institutions party to the Amended Credit Agreement and their assignees, as lenders (collectively with Wells Fargo, the “ Lenders ”), and the arrangers, bookrunners, and documentation agents party thereto, pursuant to which the Lenders agreed to provide to the Borrower senior secured credit facilities consisting of a revolving credit facility (the “ Revolving Credit Facility ”) in the initial maximum principal amount of $200,000,000 until April 15, 2029 (the “ Revolving Termination Date ”), and a delayed draw term loan facility (the “ DDTL Facil
  evidence_url: https://www.sec.gov/Archives/edgar/data/1771514/000119312526163165/0001193125-26-163165-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.