Following these acquisitions, Tannenbaum now directly owns 1,373,376 shares of Sunrise Realty Trust, representing a significant portion of the company's $93 million market capitalization. InvestingPro analysis reveals several additional key metrics and insights about the company's financial position. Additionally, he holds indirect ownership through various trusts and family arrangements, as detailed in the filing's footnotes.
Following these acquisitions, Tannenbaum now directly owns 1,373,376 shares of Sunrise Realty Trust, representing a significant portion of the company's $93 million market capitalization. InvestingPro analysis reveals several additional key metrics and insights about the company's financial position. Additionally, he holds indirect ownership through various trusts and family arrangements, as detailed in the filing's footnotes.
In other recent news, Sunrise Realty Trust, Inc. has secured two significant credit facilities. The real estate investment trust has entered into a $75 million unsecured revolving credit agreement with SRT Finance LLC, a lender indirectly owned by company executives and their family members. This credit facility, with an 8% annual interest rate, is set to mature on May 31, 2028, and will provide the company with flexible capital for their operations.
In a separate development, Sunrise Realty Trust has also secured a $50 million unsecured revolving credit agreement with SRT Finance LLC. This credit facility, which has an interest rate set at 1 month SOFR with a 3.0% floor, plus a margin of 2.75%, is scheduled to mature on December 31, 2025.
These recent developments provide Sunrise Realty Trust with substantial financial flexibility. The credit facilities allow the company to borrow, repay, and redraw funds, supporting its growth initiatives and capital structure management. The company's leadership, including Leonard M. Tannenbaum, Executive Chairman of the Board, and Robyn Tannenbaum, President of the company, were instrumental in these agreements.
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