WEST PALM BEACH, Fla., June 02, 2025 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. (“SRT” or the “Company”), a lender on the TCG Real Estate platform, today announced the expansion of its senior secured revolving credit facility (the “Credit Facility”) with the addition of EverBank, N.A. (“EverBank”). EverBank has committed $50 million to the facility, bringing total committed capital to $100 million. The Credit Facility, originally established with East West Bancorp, Inc. (“East West Bank”) in January 2025, remains expandable to $200 million, subject to certain conditions and additional lender participation.
Proceeds from the Credit Facility will continue to support unfunded commitments under existing loans, fund SRT’s commercial real estate loan pipeline in alignment with the Company’s investment strategy, and provide general working capital.
“The addition of EverBank to our credit facility underscores the confidence that our partners have in SRT’s investment strategy, management team and the compelling market opportunity ahead,” said Leonard Tannenbaum, Executive Chairman of SRT. “Welcoming another top-tier institution further enhances our capacity to provide debt to borrowers and sponsors of CRE assets as we continue to scale our portfolio across our target markets.”
“EverBank is pleased to work with SRT as it advances the growth of its platform and expands its commercial real estate loan portfolio. This transaction underscores our focus on providing bespoke lending solutions that meet the distinct needs of our clients, and we look forward to continuing our relationship with SRT,” said Kevin Mammoser, Managing Director, EverBank Structured Real Estate Finance.
About Southern Realty Trust Inc.
SRT was formed in 2023 to originate commercial real estate (“CRE”) debt investments in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit: www.theSRTgroup.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide 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.
About EverBank
EverBank, N.A. (“EverBank”) is a nationwide specialty bank providing high-value products and services to consumer and commercial clients nationwide. As a pioneer in online banking, we offer convenient digital access for clients 24/7, in addition to phone banking services and a network of financial centers across Florida and California. EverBank’s commitment is to deliver to our clients high-performing, high-yield solutions backed by exceptional service, always giving them the advantage they expect, to make the most of their money. Visit everbank.com or connect and interact with us on Facebook, Instagram, LinkedIn or X. EverBank is a Member FDIC.
About East West Bank
East West Bank provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: EWBC) with total assets of $76 billion as of December 31, 2024. The company's wholly owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California and operates over 110 locations in the United States and Asia. The Bank's markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
ir@thetcg.com
