NEW YORK, July 29, 2021 /PRNewswire/ — Cantor Fitzgerald Income Trust, Inc. (CFIT), an institutionally managed NAV REIT, announced that its wholly owned operating partnership secured a new $100 million revolving credit facility with an accordion feature up to $200 million. The credit line will be used for general corporate purposes and to fund new portfolio investments.
“The credit facility provides financial flexibility and lower borrowing costs to acquire new assets in a competitive environment”, said Chris Milner, President of CFIT. “Completing this transaction and having funds readily available underscores our proactive management approach and will allow us to scale our business and continue to provide value to our stockholders.”
“An initial draw of $63 million was utilized to fund the acquisition of a two-building, 83,959 square foot office complex in Cupertino, California leased to a Fortune 5 company on a long-term basis. The advance was secured by two previously unencumbered assets in the CFIT portfolio as well as the new acquisition,” stated Roger Shreero, Managing Director and Head of Acquisitions at Cantor Fitzgerald Investors, LLC.
The revolving credit facility, led and arranged by Citizens Bank, N.A., has an initial term of three years with two, one-year extension options and matrix-based floating rate interest margins. “We’re pleased and appreciate Citizen’s Bank’s recognition of the performance and growth of our portfolio along with our investment track record over the last four years,” shared Jay Frank, Chief Operating Officer at Cantor Fitzgerald Investment Management, LLC.
About Cantor Fitzgerald, L.P.
Cantor Fitzgerald, with over 12,000 employees, is a leading global financial services group at the forefront of financial and technological innovation and has been a proven and resilient leader for over 75 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income, equity capital markets, investment banking, SPAC underwriting, PIPE placements, prime brokerage, commercial real estate, and its global distribution platform. Cantor Fitzgerald & Co. is one of the 24 primary dealers authorized to transact business with the Federal Reserve Bank of New York. Cantor Fitzgerald is a leading SPAC sponsor, having completed multiple initial public offerings and announced multiple business combinations through its CF Acquisition platform. For more information, please visit:cantor.com.
About Cantor Fitzgerald Income Trust, Inc.
Cantor Fitzgerald Income Trust, Inc. is a publicly registered, non-traded, monthly-valued perpetual NAV real estate investment trust (REIT) that owns and manages a diversified portfolio of institutional quality, income-producing commercial real estate including apartments, industrial, office, and necessity retail properties located in the United States. For more information, please visit: cfincometrust.com.
This press release is prepared for general information purposes only. It is only current as of its date, has not been independently verified and may be subject to change without notice. CFIT and its manager make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of CFIT.
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of CFIT’s manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of CFIT, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. CFIT’s manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.
SOURCE Cantor Fitzgerald, L.P.