Owens Realty Mortgage lifts revolver to $75 million, adds lender

By Marisa Wong

Morgantown, W.Va., June 9 – Owens Realty Mortgage, Inc. said it amended its secured revolving credit facility with California Bank & Trust and First Bank to increase the maximum potential borrowings to $75 million and to add Umpqua Bank as an additional lender.

The revolver matures on March 1, 2018.

Interest is equal to the prime rate published by California Bank & Trust, currently 4%, plus 25 basis points, according to an 8-K filing with the Securities and Exchange Commission.

The company was required to pay a $100,000 fee for the amendment.

Owens is a Walnut Creek, Calif.-based specialty finance mortgage company structured to qualify as a real estate investment trust.

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