Peakstone Realty Trust (PKST) has shared an announcement.
Peakstone Realty Trust has amended its credit agreement, reducing the principal of its 2025 Term Loan and extending its maturity to 2028, with an option to increase borrowing capacity by up to $400 million. The maturity of its revolving credit line has also been extended to 2028, with a reduced commitment amount based on recent financial statements. Interest rates are now tied to SOFR or Base Rate, with a slight increase, and the capitalization rates for calculating borrowing base have been adjusted for different asset types. Furthermore, the company has entered into new interest rate hedging instruments effective from 2025 to 2029.
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