Terreno Realty Corporation Adds New $50.0 Million Term Loan and Amends $100.0 Million Revolving Cred

Terreno Realty Corporation Adds New $50.0 Million Term Loan and Amends $100.0 Million Revolving Credit Facility

SAN FRANCISCO--(BUSINESS WIRE)-- Terreno Realty Corporation (NYS: TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, added a new five-year $50.0 million term loan and amended its existing $100.0 million revolving credit agreement to extend the maturity date and decrease the annual interest rate.

The five-year $50.0 million term loan bears interest at an annual rate of LIBOR plus 1.65% to 2.65% depending on leverage and Terreno Realty Corporation has up to six months to borrow the full $50.0 million. In addition, Terreno Realty Corporation amended its revolving credit facility, extending the maturity by approximately one year to January 17, 2016 and decreasing the annual rate of interest by 85 basis points to LIBOR plus 1.65% to 2.65% depending on leverage.

The new $50.0 million term loan and amended $100.0 million credit facility was led by Key Bank as Administrative Agent and Lead Arranger, and a syndicate of financial institutions including PNC Bank, National Association, Union Bank, N.A. and Regions Bank as additional lenders.

Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Additional information about Terreno Realty Corporation is available on the company's web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management's beliefs and on assumptions made by, and information currently available to, management. When used, the words "anticipate", "believe", "estimate", "expect", "intend", "may", "might", "plan", "project", "result", "should", "will", and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2011 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise.

Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael A. Coke, 415-655-4580

KEYWORDS: United States North America California

INDUSTRY KEYWORDS:

The article Terreno Realty Corporation Adds New $50.0 Million Term Loan and Amends $100.0 Million Revolving Credit Facility originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.