GREAT NECK, N.Y., Nov. 09, 2022 (GLOBE NEWSWIRE) — One Liberty Properties, Inc. (NYSE:OLP) has signed an amendment to its $100 million credit facility extending the facility through December 2026. , to increase the amount available. The lesser of $40 million or 40% of the borrowing base may be borrowed for renovation and operating expenses, with interest rates based on 30-day SOFR and subject to compliance with certain amendments and addenda . Any net proceeds from the sale, financing, or refinancing of real estate should generally be used to repay outstanding amounts under the facility.
Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty Properties, Inc. To take advantage of potential opportunities that may arise. We remain committed to maintaining a strong balance sheet that supports our efforts to maximize long-term shareholder value. “
The funding is led by an affiliate of Manufacturers and Traders Trust Company and Valley National Bank.
About One Liberty Properties:
One Liberty The company is a self-administered and self-administered real estate investment trust incorporated in Maryland in 1982. It acquires, owns and manages a geographically diverse portfolio consisting primarily of industrial and retail properties. Many of these properties are subject to long-term net leases, and tenants are typically responsible for property taxes, insurance, and regular maintenance and repairs on the property.
contact: PR for investors
One Liberty Properties, Inc.
Phone (516) 466-3100