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Capital One Leads Syndication for Essential Properties Trust
Capital One served as joint lead arranger, joint bookrunner and administrative agent for a $430-million, seven-year, senior unsecured term loan facility to Essential Properties Realty Trust. The term loan will mature in November 2026, and has an accordion feature that will increase the facility’s availability to $500 million, subject to certain conditions.
Headquartered in Princeton, NJ, Essential Properties acquires, owns and manages primarily single-tenant properties leased to middle-market companies operating service-oriented and experience-based businesses. It will use proceeds from the facility for acquisitions, working capital, capital expenditures and repayment of debt.
“In addition to providing a smooth and timely execution process, Capital One brought in significant capacity from new lenders to this transaction,” said Hillary Hai, the REIT’s CFO.
Seven other financial institutions participated in the loan syndication.
Concurrent with the closing of this transaction, Essential Properties also amended its existing $600-million unsecured credit facility.
Pictured: A property in the Essential Properties portfolio.
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- ◦Financing
