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Plymouth Industrial REIT lands $35M revolver

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Plymouth Industrial REIT lands $35M revolver

Plymouth Industrial REIT Inc., which recently completed its IPO, obtained a $35 million senior secured revolving credit facility due August 2020.

The facility, through its accordion feature, may be expanded up to $75 million. It has a 12-month extension option and bears an interest rate equal to the London Interbank Offered Rate plus a margin range of 250 to 300 basis points, depending on Plymouth's leverage.

KeyBank NA is the lender.