Sunrise Realty Trust Expands Credit Facility to $90 Million, Adds City National Bank as Joint Lead Arranger

Sunrise Realty Trust has expanded its revolving credit facility to $90 million, adding City National Bank as a Joint Lead Arranger. The facility was initially established at $50 million in November 2024 and remains expandable to $200 million. Proceeds from the facility will fund SUNS' commercial real estate loan pipeline and provide general working capital. The expansion reflects strong confidence in SUNS' lending approach and market opportunity.

Sunrise Realty Trust, Inc. (NASDAQ: SUNS) has expanded its senior secured revolving credit facility to $90 million, following a new $40 million commitment from City National Bank of Florida (CNB). The expansion comes as part of a broader strategy to support the company's commercial real estate loan pipeline and general working capital needs [1].

Initially established at $50 million in November 2024, the facility is now co-arranged by City National Bank of Florida, joining East West Bank as a Joint Lead Arranger. The facility can be further expanded to $200 million, subject to customary conditions and additional lender participation [1].

The expansion reflects strong confidence in Sunrise Realty Trust's disciplined lending approach and market opportunity. "The continued growth of our credit facility reflects strong confidence in SUNS’ disciplined lending approach and market opportunity," said Brian Sedrish, Chief Executive Officer of SUNS. "Adding a second leading institution as Joint Lead Arranger gives us added capacity and flexibility to deliver on our strategy and support sustained portfolio growth across the region" [1].

City National Bank of Florida's commitment underscores its confidence in Sunrise Realty Trust and its leadership team's approach to private credit. "This commitment reflects CNB’s confidence in SUNS and its leadership team’s disciplined and proven approach to private credit," said Anthony Martinez, Director of CNB’s Direct Lender Banking [1].

Sunrise Realty Trust, Inc. is an institutional commercial real estate (CRE) lender, providing flexible financing solutions to sponsors of CRE projects primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets [1].

The expansion of Sunrise Realty Trust's revolving credit facility signals a positive outlook for the company's lending activities and its ability to capitalize on market opportunities in the CRE sector.

References:
[1] https://www.stocktitan.net/news/SUNS/sunrise-realty-trust-inc-expands-revolving-credit-facility-to-90-dd19lispjsdm.html