Essex Property Trust signs USD 275 million unsecured term loan with Bank of America-led lenders
Bitget2026/09/25 20:07- Essex Property Trust entered a USD 275 million unsecured term loan agreement with Bank of America as administrative agent.
- Loan matures Sept. 24, 2029, with two one-year extension options at the operating partnership’s election.
- Borrowing costs set at SOFR + 0.8% at closing, based on a ratings-linked pricing grid.
- Facility includes an option to upsize by up to USD 225 million, subject to lenders providing additional commitments.
- Proceeds expected to repay borrowings under the commercial paper program, with remaining funds for general corporate purposes.
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