Cole REIT unit uses accordion to lift credit agreement by $75 million

By Tali Rackner

Norfolk, Va., Oct. 18 – Cole Real Estate Income Strategy (Daily NAV) Operating Partnership, LP amended its secured credit agreement on Oct. 12 under which it exercised $75 million of the accordion feature, according to an 8-K filing with the Securities and Exchange Commission.

The revolving loan, swingline loan and letter-of-credit portion of the facility was increased to $136 million from $85 million, and the term loan portion was lifted to $64 million from $40 million.

JPMorgan Chase Bank, NA is the administrative agent.

The borrower is an operating partnership of Cole Real Estate Investments, Inc., a real estate investment trust based in Phoenix.

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