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Black Creek Industrial REIT IV unit boosts revolving credit facility to $200M

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Black Creek Industrial REIT IV unit boosts revolving credit facility to $200M

A Black Creek Industrial REIT IV Inc. unit amended and upsized its existing $100.0 million revolving credit facility to $200.0 million.

The amendment provides the borrower with the ability to increase the total loan commitment to up to $600.0 million from time to time. The maturity date of the facility remains unchanged at Sept. 18, 2020, and may be extended pursuant to two one-year extension options, subject to certain conditions.

Borrowings under the facility are charged interest based on the London Interbank Offered Rate plus a margin ranging from 1.60% to 2.50%, or an alternative base rate plus a margin ranging from 0.60% to 1.50%. The borrowings are available for general corporate purposes, according to the company.

Wells Fargo Bank NA serves as administrative agent for the facility.