One Liberty extends maturity of $100 million credit facility to 2022

By Wendy Van Sickle

Columbus, Ohio, July 2 – One Liberty Properties, Inc. said it entered into an amendment to its $100 million credit facility that extends the maturity date to Dec. 31, 2022.

The amendment also, subject to specified limits, increases the amount that may be used for property improvements and working capital purposes to the lesser of $30 million and 30% of the borrowing base.

At July 1, there was an outstanding balance of $32.2 million under the facility.

Patrick J. Callan Jr., president and chief executive officer of One Liberty, commented in a press release, “We are pleased to extend the term and size of our credit facility that will support the growth of our business.

“As we continue to pursue acquisitions and property improvements, this facility will provide additional financial flexibility to enhance long-term growth.”

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

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