Quinn Residences Announces New $500 Million Revolving Credit Facility with Accordion up to $1.5 Billion

Quinn Residences Announces New 0 Million Revolving Credit Facility with Accordion up to .5 Billion

ATLANTA, April 17, 2023 /PRNewswire/ — Quinn Residences (“Quinn” or the “Company”), the largest pure-play owner of high-quality, purpose-built communities of single-family homes for rent in the Southeastern United States, announced today the closing of a $500 million revolving credit facility (the “Facility”) led by JPMorgan Chase Bank. An accordion feature permits the Company to increase the borrowing capacity up to $1.5 billion. This Facility provides the Company with additional financial resources and flexibility to support its growth plans through a range of activities, including acquiring land for development, building new homes, and purchasing completed communities.

“Thanks to this Facility and the more than $900 million of committed equity from our sponsor Conversant Capital, Quinn is well positioned to execute on our strategy of partnering with local builders and developers to be the leading owner and operator of rental home communities in the attractive, high-growth markets in which we operate,” said Richard Ross, Chief Executive Officer of Quinn.  “We appreciate the support and thoughtfulness from our investors and bank group who recognize the long-term vision of our modern single-family rental business.” 

“At Quinn, our mission is to make living easier and more accessible. This Facility will accelerate our efforts to advance that mission. We develop more than just homes – we build new communities that serve and enrich the lives of our residents. We believe that increasing the amount of reasonably priced, highly amenitized, impeccably maintained housing available for our residents is an essential element to addressing our nation’s housing shortage and look to doing just that,” Ross added.

JPMorgan Chase Bank, N.A., BMO Harris Bank N.A., and M&T Bank were the Joint Lead Arrangers and Joint Bookrunners, with JPMorgan Chase Bank, N.A. as Administrative Agent. BMO Harris Bank N.A. and M&T Bank also served as Syndication Agents. Flagstar Bank, N.A. was a Documentation Agent while Royal Bank of Canada, Synovus, and The Bank of Nova Scotia also participated in the Facility.  Nate Weyer, Managing Director with Franklin Street Capital, served as sole advisor to the Company on the transaction.

About Quinn Residences
Founded in 2020 and based in Atlanta, Quinn Residences is an institutionally backed real estate operating company focused on developing, owning, and operating new, well located, and highly amenitized dedicated communities of single-family rentals in key markets in the Southeastern United States. For more information on Quinn Residences, please visit our website at https://live-quinn.com/.

Media Contact
Addy Canavan
[email protected] 

SOURCE Quinn Residences

Originally published at https://www.prnewswire.com/news-releases/quinn-residences-announces-new-500-million-revolving-credit-facility-with-accordion-up-to-1-5-billion-301798418.html

business banners

Latest posts

Irvinei Announces Launch Date for AI-Powered Touch Screen Doorbell

Irvinei Touch Screen DoorBell IRVINE, CALIFORNIA, UNITED STATES, March 28, 2024 /EINPresswire.com/ -- Irvinei, the innovator in smart home technology, is...

Governor Ron DeSantis Makes One Judicial Appointment

TALLAHASSEE, Fla. – Today, Governor Ron DeSantis announces one judicial appointment to the Sixth Judicial Circuit Court.   Benjamin Thomas, of Clearwater, to serve as Judge...

Elevating The College Experience With Style And Comfort

Sweetly Dorm Logo Sweetly Dorm is Making College Life Sweeter, One Dorm Room at a Time BOYNTON BEACH, FLORIDA, USA, March 27,...

JLL Income Property Trust Acquires Luxury Apartment Community in Suburban Portland

CHICAGO, March 14, 2024 /PRNewswire/ -- JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $7 billion...

Breaking Boundaries: Hambone Multicultural Folk Art and Recipes Now Available as NFTs

Hambone NFTs Dive into a Digital Tapestry of Culture and History ORLANDO, FLORIDA, UNITED STATES, March 27, 2024 /EINPresswire.com/ -- Hambone, the...

$525B in Multifamily Loans Will Mature Through 2029, Reports Yardi Matrix

By the end of next year, loans on 6,800 properties totaling nearly $150 billion are set to mature SANTA BARBARA, Calif., March 14, 2024 /PRNewswire/...

Westward Look Resort & Spa Introduces Catalina Riding Club

Westward Look Horseback Riding Westward Look Horseback Sunset Westward Look Horseback Trail Ride Westward Look Resort & Spa Tucson’s Historic Resort Showcases Pristine Trails...
celebrity reality tv