Bond Street Investment Trust closed a $200 million increase to its revolving credit facility, bringing total commitments to $300 million. The upsize was completed under the accordion feature of Bond Street’s credit agreement, which was executed seven months prior and permits total commitments of up to $600 million.
JPMorgan Chase Bank led the $200 million facility upsize as administrative agent and sole bookrunner, while BMO Capital Markets and KeyBanc Capital Markets served as joint lead arrangers. In the upsize transaction, KeyBank, BMO Bank and Banco Santander (New York branch) joined the facility, expanding the bank group to five institutions, including existing lender SouthState Bank.
The financing builds on an August 2025 equity commitment of up to $300 million from Conversant Capital, Bond Street’s institutional capital partner. Since closing with Conversant Capital, Bond Street has acquired 17 centers, lifting portfolio gross leasable area to nearly 1,000,000 square feet, and has expanded its presence into Phoenix, Dallas and select Midwestern markets while continuing to acquire assets in the Southeast. Ten legacy single-purpose entity (SPE) assets have also been contributed to Bond Street REIT’s operating partnership through UPREIT transactions, with 22 additional SPEs identified for near-term contribution.
“Tripling the facility reflects the momentum we have built and enables us to execute on our growing pipeline,” Michael D. Reynolds, CEO of Bond Street REIT, said. “We are pleased to welcome KeyBank, BMO and Santander alongside JPMorgan Chase and SouthState Bank. The support of the syndicate allows us to compete for assets on an all-cash basis with greater certainty and speed of execution.”
