Quinn Residences closes on $500 million revolving facility

By Mary-Katherine Stinson

Lexington, Ky., April 17 – Quinn Residences closed on a $500 million revolving credit facility led by JPMorgan Chase Bank as administrative agent, according to a news release.

An accordion feature permits the company to increase the borrowing capacity up to $1.5 billion.

JPMorgan Chase Bank, NA, BMO Harris Bank NA and M&T Bank were the joint lead arrangers and joint bookrunners. BMO Harris Bank NA and M&T Bank also served as syndication agents. Flagstar Bank, NA was a documentation agent while Royal Bank of Canada, Synovus and Bank of Nova Scotia also participated in the facility.

Nate Weyer, managing director with Franklin Street Capital, served as the company’s sole adviser on the transaction.

Atlanta-based Quinn Residences is an institutionally backed real estate operating company focused on developing, owning, and operating new, well-located, and highly amenitized dedicated communities of single-family rentals in key markets in the Southeastern United States.

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