The RMR Group Enters New $100 Million Revolving Credit Facility
The RMR Group (Nasdaq: RMR) has secured a new $100 million senior secured revolving credit facility with an initial maturity date of January 22, 2028, including a one-year extension option. The facility bears interest at SOFR plus 2.25% per annum, with a 0.50% fee on undrawn amounts.
The credit facility, secured by substantially all of RMR's assets, will support general corporate purposes and enhance financial flexibility for private capital initiatives. Over the past year, RMR has expanded its private capital business by acquiring a residential platform managing over $5 billion in assets, investing $70 million in its first multifamily property, and creating a private capital debt vehicle with $67 million in aggregate loan commitments.
RMR Group (Nasdaq: RMR) ha ottenuto un nuovo sistema di credito revolving senior garantito da 100 milioni di dollari con una data di scadenza iniziale del 22 gennaio 2028, inclusa un'opzione di estensione di un anno. Il finanziamento prevede un interesse pari a SOFR più il 2,25% annuo, con una commissione dello 0,50% sugli importi non utilizzati.
Il sistema di credito, garantito da sostanzialmente tutti gli asset di RMR, supporterà scopi aziendali generali e aumenterà la flessibilità finanziaria per iniziative di capitale privato. Nel corso dell'ultimo anno, RMR ha ampliato la sua attività di capitale privato acquisendo una piattaforma residenziale che gestisce oltre 5 miliardi di dollari in asset, investendo 70 milioni di dollari nel suo primo immobile multifamiliare e creando un veicolo di debito per capitale privato con 67 milioni di dollari in impegni di prestito aggregati.
RMR Group (Nasdaq: RMR) ha asegurado un nuevo crédito revolving senior garantizado de 100 millones de dólares con una fecha de vencimiento inicial del 22 de enero de 2028, incluida una opción de extensión de un año. El crédito tiene un interés del SOFR más un 2.25% anual, con una comisión del 0.50% sobre los importes no utilizados.
El crédito, garantizado por prácticamente todos los activos de RMR, apoyará propósitos corporativos generales y mejorará la flexibilidad financiera para iniciativas de capital privado. En el último año, RMR ha ampliado su negocio de capital privado adquiriendo una plataforma residencial que gestiona más de 5 mil millones de dólares en activos, invirtiendo 70 millones de dólares en su primera propiedad multifamiliar y creando un vehículo de deuda para capital privado con 67 millones de dólares en compromisos de préstamo agregados.
RMR 그룹 (Nasdaq: RMR)는 초기 만기일이 2028년 1월 22일인 1억 달러의 선순위 담보 회전 신용 시설을 확보했으며, 1년의 연장 옵션이 포함되어 있습니다. 이 시설은 SOFR에 연 2.25%를 더한 이자를 부과하며, 미사용 금액에 대해서는 0.50%의 수수료가 부과됩니다.
신용 시설은 RMR의 자산 대부분에 의해 담보되며, 일반 기업 용도 지원 및 민간 자본 이니셔티브를 위한 재정적 유연성을 증진하는 데 사용됩니다. 지난 1년 동안 RMR은 50억 달러 이상의 자산을 관리하는 주거 플랫폼을 인수하고, 첫 번째 다가구 부동산에 7천만 달러를 투자하며, 6천7백만 달러의 총 대출 약정을 가진 민간 자본 부채 차량을 생성하는 등 민간 자본 사업을 확장했습니다.
Le RMR Group (Nasdaq: RMR) a sécurisé un nouveau crédit revolving senior garanti de 100 millions de dollars avec une date d'échéance initiale au 22 janvier 2028, incluant une option d'extension d'un an. Le crédit porte intérêt au SOFR plus 2,25% par an, avec des frais de 0,50% sur les montants non tirés.
La facilité de crédit, garantie par presque tous les actifs de RMR, soutiendra des usages corporatifs généraux et améliorera la flexibilité financière pour les initiatives de capital privé. Au cours de l'année écoulée, RMR a élargi son activité de capital privé en acquérant une plateforme résidentielle gérant plus de 5 milliards de dollars d'actifs, en Investissant 70 millions de dollars dans sa première propriété multifamiliale et en créant un véhicule de dette pour capital privé avec des 67 millions de dollars d'engagements de prêt globaux.
Die RMR Group (Nasdaq: RMR) hat eine neue 100 Millionen Dollar teure senior gesicherte revolvierende Kreditfazilität mit einem anfänglichen Fälligkeitsdatum vom 22. Januar 2028, einschließlich einer einjährigen Verlängerungsoption, gesichert. Die Fazilität hat einen Zinssatz von SOFR zuzüglich 2,25% pro Jahr, mit einer Gebühr von 0,50% auf nicht in Anspruch genommene Beträge.
Die Kreditzusage, die durch fast alle Vermögenswerte von RMR gesichert ist, wird allgemeine Unternehmenszwecke unterstützen und die finanzielle Flexibilität für private Kapitalinitiativen erhöhen. Im vergangenen Jahr hat RMR sein Geschäft im Bereich privates Kapital ausgeweitet, indem es eine Wohnplattform erworben hat, die über 5 Milliarden Dollar an Vermögenswerten verwaltet, 70 Millionen Dollar in seine erste Mehrfamilienimmobilie investiert hat und ein privates Kapital-Schuldenfahrzeug mit 67 Millionen Dollar an Gesamtdarlehensverpflichtungen geschaffen hat.
- Secured new $100M revolving credit facility extending to 2028
- Successfully acquired residential platform with $5B AUM
- Established $67M private capital debt vehicle
- Completed first multifamily investment worth $70M
- Additional debt exposure with new credit facility
- Increased interest expenses with SOFR + 2.25% rate
Insights
The new
What's particularly compelling is how this facility complements RMR's recent strategic moves. The company has already demonstrated its commitment to private capital expansion through its
This facility provides three key advantages:
- Enhanced dry powder for opportunistic investments in a market where distressed assets may become available
- Competitive positioning against peers who might face capital constraints
- Financial flexibility without immediately impacting the balance sheet, as undrawn amounts only incur a minimal fee
The involvement of major financial institutions like Citibank, Bank of America and PNC Bank adds credibility to RMR's expansion strategy. The secured nature of the facility, while potentially limiting some financial flexibility, has likely enabled more favorable pricing terms that will benefit shareholders in the long run.
New Facility Enhances Financial Flexibility to Invest in Private Capital Initiatives
Matthew
“We appreciate the support of our bank group and their commitments to RMR. While RMR generates robust cash flow and has ample cash on hand to fund potential investments in the near term, this credit facility provides us with greater financial flexibility as we continue to invest in our private capital initiatives and position RMR to capitalize on long term growth opportunities.”
As part of its strategic initiative to expand its private capital business, over the past year RMR acquired a residential platform with private capital assets under management of more than
Citibank, N.A. is the Administrative and Collateral Agent for the new credit facility. Citibank, N.A., Bank of America, N.A. and PNC Bank, National Association are the Joint Lead Arrangers.
About The RMR Group
The RMR Group is a leading
WARNING REGARDING FORWARD LOOKING STATEMENTS
This press release includes forward-looking statements that are within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering,” and negative or derivatives of these or similar expressions. Forward-looking statements include, without limitation, statements regarding our business strategy and related benefits, our performance, plans, expectations and objectives and our ability to capitalize on additional growth opportunities. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of risks and uncertainties. For example, there can be no assurance that:
- RMR will continue to generate robust cash flow and have ample cash on hand to fund potential investments in the near term;
- the borrower will satisfy certain financial covenants and other credit facility conditions to enable it to borrow under the new credit facility;
- the borrower will satisfy certain customary conditions to exercise the option to extend the maturity date of the new credit facility subject to the payment of an extension fee; and
- actual costs under the new credit facility will not be higher than expected due to fees and expenses associated with such debt.
These factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included in RMR’s periodic filings. The information contained in RMR’s filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in its periodic reports, or incorporated therein, identifies important factors that could cause differences from the forward-looking statements in this press release. RMR’s filings with the SEC are available on its website and at www.sec.gov. You should not place undue reliance on forward-looking statements. Except as required by law, RMR undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250122803280/en/
Kevin Barry, Senior Director, Investor Relations
(617) 796-8230
Source: The RMR Group Inc.
FAQ
What are the terms of RMR Group's new $100M credit facility?
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Which banks are involved in RMR's new credit facility?
