Sunrise Realty Trust (SUNS) said Tuesday it is expanding its senior secured revolving credit facility to $90 million after City National Bank of Florida added a $40 million commitment and joined as a joint lead arranger.
The credit line was originally set up in November 2024, with a $50 million commitment from East West Bancorp (EWBC) unit East West Bank, which remains the administrative agent, Sunrise Realty Trust said.
The credit facility could increase to $200 million, depending on lender participation and other terms, the company said, adding that it plans to use the proceeds to finance its commercial real estate lending activity and meet current obligations, among other purposes.
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