Quinn Residences Announces New $500 Million Revolving Credit Facility with Accordion up to $1.5 Billion
Quinn Residences announced the closing of a $500 million revolving credit facility led by JPMorgan Chase Bank. An accordion feature permits Quinn to increase the borrowing capacity up to $1.5 billion.
JPMorgan Chase Bank, N.A., BMO Harris Bank N.A., and M&T Bank were the Joint Lead Arrangers and Joint Bookrunners, with JPMorgan Chase Bank, N.A. as Administrative Agent. BMO Harris Bank N.A. and M&T Bank also served as Syndication Agents. Flagstar Bank, N.A. was a Documentation Agent while Royal Bank of Canada, Synovus, and The Bank of Nova Scotia also participated in the Facility. Nate Weyer, Managing Director with Franklin Street Capital, served as sole advisor to the Company on the transaction.
“We appreciate the support and thoughtfulness from our investors and bank group who recognize the long-term vision of our modern single-family rental business,” said Richard Ross, Chief Executive Officer of Quinn.