ExchangeRight Expands Essential Income REIT Credit Facility to $150M  

ExchangeRight has secured a new $15 million commitment from Renasant Bank for its Essential Income REIT, boosting the REIT’s total revolving line of credit to $150 million. The fresh commitment joins prior contributions from Wells Fargo and Fifth Third Bank, further expanding the REIT’s credit facility, which can grow up to $400 million subject to additional commitments. 

The newly increased capacity strengthens the Essential Income REIT’s ability to pursue its conservative net-lease acquisition strategy, manage its portfolio mix more nimbly, and optimize its financing through long-term, fixed-rate corporate bonds when market conditions are favorable. This approach aligns with ExchangeRight’s goal of enhancing Adjusted Funds from Operations (AFFO) and delivering steady, tax-efficient income for investors. 

“We appreciate Renasant Bank’s confidence in the Essential Income REIT’s conservative investment strategy and proven track record,” said Joshua Ungerecht, managing partner at ExchangeRight. “This Credit Facility expansion supports our ongoing efforts to acquire high-quality assets, broaden the REIT’s diversification, lock in lower rates when the time is right, and deliver long-term value for our investors.” 

The Essential Income REIT focuses on single-tenant, primarily investment-grade net-leased real estate. Available to accredited investors only, it currently offers annualized distribution rates ranging from 5.28% to 6.38% across its share classes.