INDUS Realty Trust, as parent guarantor, INDUS RT, LP, as borrower, and certain subsidiaries of INDUS RT, LP, as guarantors, attained a secured revolving credit facility of up to $100 million, replacing both the company’s former revolving credit line and acquisition credit line, which totaled $50 million in the aggregate and were scheduled to expire on Sept. 30.

The new credit facility has a three-year term with two one-year extensions at the company’s option. The new credit facility also includes an uncommitted incremental facility, which would enable the new credit facility to be increased up to $250 million in the aggregate. Borrowings under the new credit facility will bear interest subject to a pricing grid for changes in the company’s total leverage. Based on the company’s current leverage, the initial annual interest rate under the new credit facility is one-month LIBOR plus 1.2% compared with a rate of one-month LIBOR plus 2.5% and one-month LIBOR plus 2.75% under its former revolving credit line and acquisition credit line, respectively.

“This facility provides the company ample liquidity and flexibility as we continue to grow our industrial/logistics portfolio,” Michael Gamzon, president and CEO of INDUS Realty Trust, said. “We are pleased to substantially lower our borrowing costs from our prior facilities in addition to migrating from a mortgage-secured to an equity-pledge structure. We remain committed to growing our unencumbered industrial/logistics portfolio and we thank all of our existing and new lending partners for their strong support of our vision and for their credit commitments to INDUS.”

JPMorgan Chase Bank and Citibank were the joint lead arrangers and joint book runners for the new credit facility, with JPMorgan Chase Bank serving as administrative agent and Citibank serving as syndication agent. BMO Harris Bank, KeyBank and Morgan Stanley Senior Funding also participated in the new credit facility.

INDUS Realty Trust is a U.S.-based industrial/logistics real estate investment trust.