Claros Mortgage unit secures new $150 million revolver

By William Gullotti

Buffalo, N.Y., July 6 – A special purpose, wholly owned subsidiary of Claros Mortgage Trust Inc. entered a $150 million secured revolving credit facility on June 29, according to an 8-K with the Securities and Exchange Commission.

The revolver has an initial maturity of June 29, 2025 and a $350 million accordion.

Facility borrowings will be secured by certain commercial real estate loan assets and have a maximum duration of six months.

Bank of America, NA is the administrative agent with BofA Securities, Inc. as sole bookrunner and lead arranger.

Claros Mortgage Trust is a commercial mortgage real estate investment trust with a focus on lending on large scale, transitional assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.