{"id":13131,"date":"2024-12-03T20:51:45","date_gmt":"2024-12-04T02:51:45","guid":{"rendered":"https:\/\/1reason.com\/re\/sunrise-realty-trust-announces-the-successful-closing-of-a-senior-revolving-credit-facility-up-to-200-million-with-an-initial-50-million-commitment-from-east-west-bank\/13131\/"},"modified":"2024-12-04T14:51:45","modified_gmt":"2024-12-04T20:51:45","slug":"sunrise-realty-trust-announces-the-successful-closing-of-a-senior-revolving-credit-facility-up-to-200-million-with-an-initial-50-million-commitment-from-east-west-bank","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/sunrise-realty-trust-announces-the-successful-closing-of-a-senior-revolving-credit-facility-up-to-200-million-with-an-initial-50-million-commitment-from-east-west-bank\/13131\/","title":{"rendered":"Sunrise Realty Trust Announces the Successful Closing of a Senior Revolving Credit Facility up to $200 Million with an Initial $50 Million Commitment from East West Bank"},"content":{"rendered":"
The Revolving Credit Facility provides access up to $200 million in borrowing capacity, subject to available borrowing base and additional commitments, with an initial commitment of $50 million. With favorable terms, including an interest rate of SOFR plus 2.75% (subject to a SOFR floor of 2.63% and other conditions), the Revolving Credit Facility offers SUNS flexibility to borrow and repay funds as needed. This facility strengthens SUNS\u2019 ability to pursue strategic growth initiatives and capitalize on high-quality investment opportunities across the Southern United States. <\/p>\n

East West Bank, headquartered in Pasadena, California, is a leading financial institution with over $74.5 billion in assets.<\/p>\n

“Closing this credit facility with East West Bank is an important milestone for SUNS. With an initial $50 million commitment\u2014and the potential to expand up to $200 million\u2014this facility gives us the financial flexibility to drive our strategic growth forward. I am pleased SUNS was able to attract a high-quality institution like East West Bank that provided us a credit facility with a flexible structure at an attractive rate,” said Brian Sedrish, Chief Executive Officer of SUNS.<\/p>\n

About Sunrise Realty Trust, Inc.<\/strong>
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions to sponsors of commercial real estate located in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and Southern cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com<\/a>.<\/p>\n

About East West Bank<\/strong>
East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: \u201cEWBC\u201d) with total assets of $74.5 billion as of September 30, 2024. The Company\u2019s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 110 locations in the United States and Asia. The Bank\u2019s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit www.eastwestbank.com<\/a>.<\/p>\n

Forward-Looking Statements<\/strong>
This news release contains forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995 that reflect the Company\u2019s current viewsand projections. All statements other than statements of historical fact are forward-looking statements. The Company\u2019s forward-looking statements are generally accompanied by words such as \u201cintend,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cpredict,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cpotential,\u201d \u201cplan,\u201d \u201cgoal\u201d or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company\u2019s control. Certain factors, risks and uncertainties discussed under the caption \u201cRisk Factors\u201d and elsewhere in the Company\u2019s registration statement on Form 10, available on the SEC\u2019s website, could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.<\/p>\n

Investor Relations Contact:<\/strong>
Robyn Tannenbaum
561-510-2293
ir@sunriserealtytrust.com<\/p>\n

Media Contact:<\/strong>
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

WEST PALM BEACH, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) — Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (\u201cSUNS\u201d or the \u201cCompany\u201d) today announced the successful closing of a new senior secured revolving credit facility with East West Bank serving as agent and the initial lender (the \u201cRevolving Credit Facility\u201d).<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13131"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=13131"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13131\/revisions"}],"predecessor-version":[{"id":13208,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13131\/revisions\/13208"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=13131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=13131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=13131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}