Owens Realty Mortgage Inc. amended a credit agreement under which the lenders will continue to provide Owens Realty with a $75 million secured revolving credit facility, subject to borrowing conditions.
The amended agreement provides Owens Realty with an option to increase the maximum available principal amount to up to $95 million, provided that one or more new or existing lenders agree to provide such additional loan commitments.
The maturity date for the borrowed funds has been extended to May 15, 2020, as per the amendment.
ZB NA, doing business as California Bank & Trust, is acting as administrative agent, swingline lender and a lender. First Bank and Umpqua Bank are acting as additional lenders.