Sunrise Realty Trust Expands Revolving Credit Facility to $140M with EverBank.

Sunrise Realty Trust expanded its revolving credit facility to $140 million with EverBank joining as joint lead arranger. The facility, originally established with East West Bancorp in November 2024, remains expandable to $200 million. Proceeds will support unfunded commitments under existing loans and fund new loans.

Sunrise Realty Trust, Inc. (Nasdaq: SUNS) has expanded its senior secured revolving credit facility to $140 million following the addition of EverBank, N.A. as a joint lead arranger. The facility, originally established with East West Bancorp, Inc. in November 2024, can be expanded to $200 million subject to certain conditions and additional lender participation [1].

The expansion brings the total committed capital to $140 million, with EverBank committing $50 million. Proceeds from the facility will continue to support unfunded commitments under existing loans, fund Sunrise Realty Trust’s commercial real estate loan pipeline, and provide general working capital [1].

“Adding a third institutional bank to the credit facility highlights the strength of SUNS’ lending platform and the trust we’ve built with our financing partners,” said Leonard Tannenbaum, Executive Chairman of SUNS. “Expanding the facility to $140 million in commitments provides added financial flexibility to pursue attractive opportunities and drive continued growth in our target markets” [1].

Kevin Mammoser, Managing Director of EverBank Structured Real Estate, commented, “EverBank is pleased to support SUNS as it continues expansion of its platform and growth of its CRE loan portfolio. Joining this credit facility highlights our desire to offer highly customized loan structures that serve borrowers’ specific requirements, and we look forward to serving SUNS’ evolving needs in the future” [1].

Sunrise Realty Trust, Inc. is an institutional commercial real estate (CRE) lender that provides 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 [2].

TCG Real Estate, which includes Sunrise Realty Trust, Inc., provides flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefitting from economic tailwinds with growth potential [2].

EverBank, N.A. is a nationwide specialty bank providing high-value products and services to consumer and commercial clients nationwide. As a pioneer in online banking, EverBank offers convenient digital access for clients 24/7, in addition to phone banking services and a network of financial centers across Florida and California [3].

References:
[1] https://www.marketscreener.com/quote/stock/SUNRISE-REALTY-TRUST-INC-172239602/news/Sunrise-Realty-Trust-Expands-Revolving-Credit-Facility-to-140-Million-with-Addition-of-EverBank-as-50105522/
[2] https://uk.finance.yahoo.com/news/sunrise-realty-trust-expands-revolving-200500148.html
[3] https://www.stocktitan.net/news/SUNS/sunrise-realty-trust-expands-revolving-credit-facility-to-140-x2ffy293y0s9.html