New York City — RD Management LLC has announced the formation of its new entity, RD Property LLC. RD Property comprises 50 real estate properties that span approximately 4 million square feet and features shopping centers, self-storage facilities, hotels and net lease properties across the U.S. The consolidation of RD Management is meant to streamline operations, enhance growth prospects and strengthen capital resources.
Additionally with its formation, RD Property has closed on a $350 million loan and revolving credit facility that will provide the company with financial flexibility and liquidity to support refinancing initiatives, reinvestment across its existing portfolio and new opportunities.
KeyBank organized the financing as joint lead arranger and administrative agent, along with a syndicate of additional financial institutions including The Bank of New York Mellon, Huntington National Bank and PNC Bank. Bass, Berry & Sims PLC and Roberts & Holland LLP represented RD Property. Attorneys Riemer & Braunstein represented KeyBank and the lending group.