Apartment Income REIT closed a new $1.4 billion credit facility. PNC Capital Markets and Wells Fargo Securities led the syndication as joint bookrunners and lead arrangers. PNC Bank is also the administrative agent and sustainability agent for the facility.
Alexander & Baldwin amended its revolver principally to increase the commitment by $100 million to $450 million. Bank of America served as administrative agent on the deal.
Robert Fujioka, First Hawaiian Bank vice chairman and chief lending officer will retire this year after 21 years with the bank. Lance Mizumoto was promoted to EVP/Commercial Banking Group, and Dan Nishikawa was promoted to SVP/Commercial Real Estate.