STAG INDUSTRIAL UPGRADED TO "A" GRESB DISCLOSURE RATING
On October 13, 2022, STAG Industrial announced it received a GRESB Public Disclosure Level of 'A' for 2022, marking its first 'A' rating. This achievement positions STAG above the global average score of 'B' and the 'C' score of its 10 industrial real estate peers, ranking second among them. The upgrade leads to reduced interest rates on three unsecured term loans totaling $650 million and a $1 billion revolving credit facility, effective October 17, 2022, with a reduction of two basis points per loan. This success reflects STAG's commitment to sustainability in its industrial property operations.
- Achieved GRESB Public Disclosure Level of 'A' for 2022.
- Ranked second among 10 industrial real estate companies in GRESB comparison.
- Interest rate reduction on $650 million in loans and $1 billion credit facility by two basis points.
- None.
BOSTON, Oct. 13, 2022 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE:STAG) today announced that it achieved a GRESB Public Disclosure Level of "A" for 2022.
The improved score triggers a sustainability-related interest rate adjustment for three of the Company's unsecured term loans totaling
GRESB is an entity which launched in 2009 that provides a consistent and standard ranking system to evaluate and compare corporate ESG efforts in the real estate industry. For the first time since being rated, the Company received an "A" for its annual GRESB Public Disclosure score. This "A" in 2022 compares favorably to the average score of "B" for all companies, globally, rated by GRESB and to the average score of "C" for the 10 industrial real estate companies in the GRESB public disclosure comparison group that includes the Company. The Company ranked second among the 10 comparison companies.
"We progressed on several ESG fronts while profitably pursuing our business as an industrial building landlord," said Jeff Sullivan, General Counsel of the Company. "It is rewarding to have GRESB and the terms of our commercial borrowing arrangements reflect this balanced progress."
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership, and operation of industrial properties throughout the United States. As of June 30, 2022, the Company's portfolio consists of 559 buildings in 40 states with approximately 111.5 million rentable square feet.
For additional information, please visit the Company's website at www.stagindustrial.com.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2021 as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE STAG Industrial, Inc.
