Terreno Realty Corporation increases borrowing capacity on its unsecured credit facility
BELLEVUE, Washington, June 30, 2022–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major U.S. coastal markets, today announced an increase in its borrowing capacity as part of of its revolving credit facility (the “Facility”) from $150 million to $400 million. The current outstanding balance on the facility is $12 million.
KeyBanc Capital Markets, MUFG Union Bank, NA, PNC Capital Markets LLC and Regions Capital Markets served as joint lead arrangers and KeyBank, NA is the administrative agent. MUFG Union Bank, PNC Bank, NA and Regions Banks served as co-syndication agents. Other key participants were Goldman Sachs Bank USA, US Bank, NA, Huntington National Bank and Citizens.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major US coastal markets: Los Angeles, Northern New Jersey/New York, San Francisco Bay Area, Seattle, Miami and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the Company’s website at www.terreno.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and assumptions made by management and information currently available to it. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “project”, “outcome”, “should”, “will”, “seek”, “target”, “see”, “probable”, “position”, “opportunity”, “prospect”, “potential”, “enthusiastic”, “future ” and similar expressions that do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors beyond our control, including risks related to our ability to meet our estimated expectations related to stabilized capitalization rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and the risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2021 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated, estimated or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, investors should exercise caution when relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
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