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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
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  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Essential Properties Realty Trust, Inc. Announces Expanded $2.3 Billion Unsecured Credit Facility

Essential Properties Realty Trust, Inc. (NYSE: EPRT; “Essential Properties” or the “Company”), announced today that the Company has closed an amendment to its existing senior unsecured credit facility. After giving effect to the amendment, the Company’s amended and restated credit facility consists of a $1.0 billion unsecured revolving credit facility and three existing term loans with a combined balance of $1.3 billion. The revolving credit facility matures in February 2029, with an option to extend the maturity date to February 2030. The amendment increases and extends the Company’s previous $600 million unsecured revolving credit facility which was set to mature in February 2026.

Mark Patten, Chief Financial Officer of Essential Properties, said, “We are pleased to upsize our unsecured revolving credit facility and further enhance the overall terms and conditions of the unsecured credit facility, and greatly appreciate the participation from all of our lending group, which, we believe, continues to highlight the breadth and commitment of our capital partners.” Mr. Patten continued, “The recast of the overall facility significantly increased our revolver capacity, extended the maturity, and also incorporated improvements to the rate structure and our financial covenants, greatly enhancing our financial flexibility and further strengthening our balance sheet and our access to capital.”

Wells Fargo Securities, LLC and BofA Securities, Inc. served as the Joint Bookrunners on the transaction, with Wells Fargo Bank, N.A. serving as the Administrative Agent and Bank of America, N.A. serving as the Syndication Agent. Wells Fargo Securities, LLC, BofA Securities, Inc., Bank of Montreal, Capital One, N.A., Mizuho Bank, Ltd., TD Bank, N.A., and Truist Securities, Inc. acted as Joint Lead Arrangers. Bank of Montreal, The Bank of Nova Scotia, BNP Paribas, Capital One, N.A., Citibank, N.A., Huntington National Bank, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., Regions Bank, TD Bank, N.A. and Truist Bank served as Documentation Agents.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of September 30, 2024, the Company’s portfolio consisted of 2,053 freestanding net lease properties with a weighted average lease term of 14.1 years and a weighted average rent coverage ratio of 3.6x. In addition, as of September 30, 2024, the Company’s portfolio was 99.9% leased to 407 tenants operating 583 different concepts in 16 industries across 49 states.

Contacts

Investor/Media:

Essential Properties Realty Trust, Inc.

Robert Salisbury, CFA

Senior Vice President, Head of Capital Markets

609-436-0619

investors@essentialproperties.com

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