RREEF Property Trust, Inc. Announces Closing of $75 Million Secured Revolving Credit Facility

RREEF Property Trust, Inc. (NASDAQ:ZRPTAX) (NASDAQ:ZRPTBX), a publicly registered, daily NAV REIT, announced today the closing of a $75 million secured revolving credit facility with Wells Fargo Bank, National Association (the “Facility”) on March 6, 2015. At closing, RREEF Property Trust borrowed approximately $43.4 million under the Facility to retire and replace RREEF Property Trust’s existing $50 million secured revolving credit facility with Regions Bank, which was scheduled to mature on May 1, 2015.

Pricing under the Facility is based on RREEF Property Trust’s debt yield ratio and is currently at LIBOR + 170 basis points. An accordion feature will allow RREEF Property Trust to increase the Facility by up to $75 million, subject to meeting specified conditions, for a total maximum commitment of $150 million.

The Facility is scheduled to mature on March 6, 2018 and may be extended for two 12-month periods to March 6, 2020 subject to satisfaction of certain conditions and payment of extension fees.

“This new credit facility increases our liquidity at attractive terms and pricing while allowing us the flexibility to introduce other sources of debt as the portfolio grows,” said Jim Carbone, President and CEO of RREEF Property Trust.

Wells Fargo Bank, National Association is acting as sole administrative agent and lender on the Facility and can add additional lenders when the accordion feature is exercised.

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