Bridge Investment Group increases line of credit to $125 million

By Wendy Van Sickle

Columbus, Ohio, June 6 – Bridge Investment Group Holdings Inc. refinanced its existing senior secured credit facility, increasing the size of its line of credit to $125 million from $75 million, according to a news release Monday.

The maturity of the credit facility matures on June 3, 2024, subject to extension under some circumstances, and can be increased up to $225 million, contingent upon some criteria being met.

CIBC, Inc. and Zions First National Bank served as joint lead arrangers.

The company said the upsized credit facility and a $150 million private placement of notes due in 10 and 12 years bolster the company’s balance sheet and provide increased flexibility to take advantage of organic and inorganic opportunities to accelerate growth.

Based in Salt Lake City, Bridge is a vertically integrated real estate investment manager, diversified across specialized asset classes, with about $38.8 billion of assets under management as of March 31.a

© 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.