Easterly Government Properties Secures $400M Credit Facility

Easterly Government Properties, Inc. (NYSE: DEA) has announced the execution of a new $400 million revolving credit facility, demonstrating its ability to access capital and maintain ample liquidity for future growth. The facility includes an accordion feature that allows the company to request additional lender commitments of up to $300 million, bringing the total revolver capacity to $700 million.

Borrowings under the revolver will bear interest at a rate of adjusted SOFR plus a spread of 1.20% to 1.80%, depending on the company’s leverage ratio. The initial spread to adjusted SOFR is set at 1.35% given the company's current leverage ratio.

The company intends to use borrowings under the revolver for general corporate purposes, including acquisitions, development, redevelopment, and other capital expenditures. All outstanding borrowings on the company’s previous revolving credit facility that was set to expire in July 2025 will be assumed under the newly executed revolver.

The joint lead arrangers and joint bookrunners on the revolver were Citibank, N.A., PNC Capital Markets LLC, Truist Securities, and Wells Fargo Securities, LLC, with Citibank, N.A. serving as administrative agent, and PNC Bank, National Association, Truist Securities, and Wells Fargo Bank, N.A. serving as co-syndication agents.

This new facility reflects the company's efforts to extend the term of lender commitments and secure liquidity to ensure flexibility as it continues to pursue accretive capital deployment opportunities.

Easterly Government Properties, Inc., based in Washington, D.C., focuses primarily on the acquisition, development, and management of class A commercial properties leased to the U.S. government. For further information on the company and its properties, please visit As a result of these announcements, the company's shares have moved 0.0% on the market, and are now trading at a price of $12.15. For the full picture, make sure to review Easterly Government Properties's 8-K report.

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