Skip to content
The DI Wire
Click Here to Subscribe to Our Free Daily News Updates

Cantor Fitzgerald REIT Secures Credit Facility, Buys California Office Complex Leased to Apple

Cantor Fitzgerald Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Rodin Global Property Trust, has  secured a new revolving credit facility and purchased an office complex in California.

Cantor Fitzgerald Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Rodin Global Property Trust, has secured a new $100 million revolving credit facility with an accordion feature up to $200 million. The credit line will be used for general corporate purposes and to fund new portfolio investments.

Roger Shreero, managing director and head of acquisitions at Cantor Fitzgerald Investors, said that an initial draw of $63 million was used to purchase a two-building, 84,000-square-foot office complex in Cupertino, California that is “leased to a Fortune 5 company on a long-term basis.”

According to a filing with the Securities and Exchange Commission, the property is 100 percent net leased to Apple Inc. until July 2031. G&E Real Estate Management Services, an affiliate of Cantor Fitzgerald Investors, will manage the property.

“The advance was secured by two previously unencumbered assets in the [Cantor Fitzgerald Income Trust] portfolio as well as the new acquisition,” added Shreero.

The revolving credit facility, led and arranged by Citizens Bank N.A., has an initial term of three years with two, one-year extension options and matrix-based floating rate interest margins.

Cantor Fitzgerald Income Trust is a monthly-valued perpetual net asset value REIT that owns and manages a portfolio of commercial real estate including multifamily, industrial, office, and necessity retail properties located in the United States. As of June 2021, the REIT’s portfolio included properties valued at $391.4 million and real estate-related assets valued at $33.2 million. The REIT has raised $202.1 million in its initial offering as of June 2021.

Click here to visit The DI Wire directory page.