Service Properties Trust (SVC) has secured a new $650 million revolving credit facility, replacing its previous facility. The new facility has a maturity date of June 29, 2027, with two optional six-month extensions.  

The facility is backed by 69 properties, including 66 hotels and three net lease properties. Wells Fargo Securities, PNC Capital Markets, and BMO Harris Bank serve as joint lead arrangers and joint lead bookrunners, while Wells Fargo Bank acts as the administrative agent.  

“Based on the success of our first fund, we continue to implement a rigorous and disciplined investment strategy that seeks to focus on a small number of high-quality investments each year,” said Josh Koplewicz, founder and managing partner of Thayer Street. “Fund II will build on our approach of providing flexible capital solutions to support our partner companies’ growth objectives and foster shared long-term success.”