One Liberty expands revolver to $100 million, extends maturity

By Marisa Wong

Morgantown, W.Va., Nov. 9 – One Liberty Properties, Inc. said it entered into an amended and restated revolving credit facility that increases the availability under the facility to $100 million and extends the maturity date to Dec. 31, 2019.

Patrick J. Callan Jr., president and chief executive officer of One Liberty, commented in a press release, “As we continue to produce consistent results year over year, it is prudent to increase our borrowing capacity in anticipation of future opportunities. This line will provide additional financial flexibility in our efforts to grow the company as we pursue targeted acquisitions and other growth prospects.”

The bank group includes Manufacturers and Traders Trust Co., People’s United Bank, VNB New York, LLC and Bank Leumi USA.

As of Nov. 9, there is an outstanding balance of $22.8 million under the facility.

The real estate investment trust is based in Great Neck, N.Y.

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