Wheeler Real Estate Investment Trust, Inc. (WHLR): debt financing — Wheeler REIT enters $53.07M term loan with Guggenheim at 6.24% fixed rate, matures 2033

Wheeler Real Estate Investment Trust, Inc.

Loan principal $53,070,000 from Guggenheim Real Estate LLC; fixed rate 6.24% per annum.
Maturity date June 10, 2033; interest payable monthly starting July 10, 2023; principal amortization begins July 2028.
Proceeds used to refinance owned properties, pay expenses, fund reserves, and working capital.
Financial covenants: consolidated net worth >= $75M and minimum liquidity >= $6M for Operating Partnership guarantor.
Loan secured by mortgage-level collateral on multiple retail properties held by wholly owned subsidiaries.

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

Wheeler Real Estate Investment Trust, Inc. incurred term loan of $53,070,000 with Guggenheim Real Estate, LLC at 6.24% per annum maturing June 10, 2033.

Instrument: term loan
Principal: $53,070,000
Counterparty: Guggenheim Real Estate, LLC
Rate: 6.24% per annum
Maturity: June 10, 2033
Event: incurrence

Exact text from the filing

entered into a Term Loan Agreement (the “Loan Agreement”) with Guggenheim Real Estate, LLC (the “Lender”). Under the Loan Agreement, the Lender agreed to make a loan to the Borrower in the principal amount of $53,070,000 (the “Loan”), with a scheduled maturity date of June 10, 2033

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Wheeler Real Estate Investment Trust, Inc. entered into Term Loan Agreement with Guggenheim Real Estate, LLC valued at $53,070,000 (effective 2023-05-18).

Action: entry
Agreement: credit facility
Counterparty: Guggenheim Real Estate, LLC
Value: $53,070,000
Effective: 2023-05-18

Exact text from the filing

entered into a Term Loan Agreement (the “Loan Agreement”) with Guggenheim Real Estate, LLC (the “Lender”). Under the Loan Agreement, the Lender agreed to make a loan to the Borrower in the principal amount of $53,070,000

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

Wheeler Real Estate Investment Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001527541-23-000028

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