Daily News: September 11, 2014

Four Springs Closes on Peapack-Gladstone $15MM Credit Line

Four Springs Capital Trust announced it closed on an acquisition line of credit with Peapack-Gladstone Bank in the amount of $15 million.

“This facility, which increases our available lines of credit from $10 million to $25 million, represents a significant milestone in the growth of our company. The flexibility, liquidity, and favorable cost of capital the facility provides will allow us to considerably increase our volume of property acquisitions within the retail, office, healthcare and industrial sectors of the real estate market,” said William Dioguardi, CEO of FSCT.

“The new line of credit will be instrumental as we continue to build our acquisition pipeline by funding properties currently under contract and those that we are considering,” said Cynthia Daly, director of acquisitions of FSCT.