Broadtree Residential, Inc. Expands Revolving Line of Credit to $300 Million


ROCHESTER, N.Y., Sept. 19, 2018 (GLOBE NEWSWIRE) -- Broadtree Residential, Inc. (“Broadtree”), a private real estate investment trust (“REIT”) managed by Broadstone Real Estate, LLC (“Broadstone”), together with Broadtree Residential, LLC as borrower, announced the expansion of its existing senior secured revolving line of credit (the “Revolver”) from $100 million to $300 million. The company also amended the agreement to increase the remaining accordion feature, allowing for future expansion up to $500 million of total borrowing capacity. All other material business terms of the senior secured revolving line of credit remain unchanged.

The Joint Lead Arrangers and Joint Bookrunners for the facility are JPMorgan Chase Bank, N.A., Manufacturers and Traders Trust Company, and Keybanc Capital Markets Inc. JPMorgan Chase Bank, N.A. is Administrative Agent, Manufacturers and Traders Trust Company is Syndication Agent, and Keybank National Association is Documentation Agent. The other participants in the facility include BMO Harris Bank, N.A., Capital One, National Association, Regions Bank, and SunTrust Bank.

“We are excited to announce the expansion of our Revolver, which enhances our liquidity position and provides us with the financial flexibility to fund property acquisitions in real time,” said Ryan M. Albano, EVP & Chief Financial Officer. “We sincerely appreciate the strong support of our bank lending partners, and view this transaction as a testament to the ongoing growth and positive momentum of Broadtree. The Revolver will provide us with the funds necessary to continue to increase the size of our real estate portfolio, which is fundamental to our goal of providing current yield to our shareholders in the form of quarterly distribution payments.”

About Broadtree Residential:

Broadtree is a REIT designed to provide shareholders with predictable, tax-sheltered cash flow, and to generate attractive total returns via investment in a diversified portfolio of multifamily apartment communities.

Broadtree seeks residential property acquisitions via outright cash purchases and/or through UPREIT transactions. UPREIT transactions (where “UPREIT” stands for Umbrella Partnership REIT) provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. These transactions enable the property owner to exchange owned real estate for an interest in a professionally managed portfolio that is diversified by geography and property type.

Broadtree, which is externally managed by Broadstone, remains open for investment by accredited investors only, with a minimum initial investment of $200,000, or $100,000 via financial advisors. Shares are offered via private placement. Please see certain important disclosures regarding Broadtree at broadstone.com/disclosures. Accredited investors are invited to download an investor kit: broadstone.com/JP2

Media Contact:
Emma Bliss
Senior Associate, Marketing
Emma.Bliss@Broadstone.com
585.287.6479