Medalist Diversified REIT, Inc. Announces $4 Million Line of Credit and Cash Dividend of $0.06 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock Cash Divide...
Medalist Diversified REIT, Inc. (MDRR)
Company Research
Source: Business Wire
RICHMOND, Va.--(BUSINESS WIRE)--Medalist Diversified REIT (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that the Company has increased its line of credit to $4 million, previously set at $1.5 million, as part of its ongoing strategic efforts to enhance financial flexibility and support future growth. The expanded credit facility carries an interest rate of SOFR + 3.1%, offering competitive financing terms that allow the Company to continue its focus on high-quality acquisitions and operational efficiency within its portfolio.Brent Winn, CFO of Medalist, commented on the development: “We are pleased to deepen our relationship with Wells Fargo, a long-time financial partner, and appreciate their continued support as we execute our strategic objectives. The expanded line of credit provides us with the additional l
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