A Birmingham real estate firm just secured a significant amount of credit to continue expanding its footprint across the South.
Graham Commercial Properties has secured a $200 million line of credit with Wells Fargo N.A. to use on acquisitions in high-growth markets in the Southeast.
“We’re pleased to announce this new credit agreement which will help us continue to execute on our strategic vision of diversifying our holdings of last-mile industrial properties across the Southeast,” said John Hagefstration, GCP’s Executive Vice President and General Counsel. “In tandem with Blue Ceiba’s recent equity investment, this debt facility will provide greater flexibility so we can act quickly and nimbly to acquire new properties in key markets.”
Since its inception, Graham Commercial Properties has made a number of key acquisitions in the region, including a recent deal in Atlanta.
Company leaders have previously told the BBJ about ambitious plans to grow around the region before possibly expanding to other areas of the country.
The Wells Fargo deal comes on the heels of Blue Ceiba Advisors’ $100 million investment in GCP. Blue Ceiba is comprised of a group of foreign investors from Latin America, including Devon Investments, which are investing in GCP’s Southeastern growth.
Wells Fargo was represented by Merrill Breland, Melissa Frawley and Brent Farnham.
