Agree Realty adds revolving loan commitments, lifts to $325 million

By Susanna Moon

Chicago, July 23 – Agree Realty Corp. obtained $75 million of revolving additional commitments under its credit agreement on July 18, raising the total amount to $325 million, according to an 8-K filing with the Securities and Exchange Commission.

PNC Bank, NA is the administrative agent.

The credit agreement also provides for $100 million of term loans and has an accordion that allows the total debt to be increased to $500 million, the filing noted.

Agree is a real estate investment trust located in Farmington Hills, Mich.

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