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Nuveen Global Cities REIT unit increases credit facility to $150M

Nuveen Global Cities REIT Inc. unit Nuveen Global Cities REIT OP LP amended a credit agreement signed Oct. 24 to raise aggregate commitments under the facility to $150.0 million from up to $60.0 million for unsecured revolving loans.

The initial contract includes an accordion feature under which the diversified real estate investment trust's subsidiary may increase the aggregate commitments to as much as $500.0 million, pending the satisfaction of certain conditions.

Wells Fargo Bank National Association is lending $60.0 million, while Bank of America NA, JPMorgan Chase Bank NA and U.S. Bank NA are each providing $30.0 million under the amended agreement.

Proceeds may be used for general business purposes that include the funding of certain real estate portfolio investments.

Wells Fargo Bank NA is acting as the administrative agent with regard to the credit agreement, while Wells Fargo Securities LLC serves as the lead arranger and sole book runner.