BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE American: PLYM) today announced it has closed on a $35 million senior secured revolving credit facility with KeyBank National Association. The credit facility has an accordion feature that allows the total borrowing capacity under the credit facility to be increased up to $75 million, subject to certain conditions. The credit facility matures in August 2020 and has one, 12-month extension option, subject to certain conditions. Amounts outstanding under the facility bear interest at LIBOR plus a margin between 250 to 300 basis points, depending on the Company’s leverage.

Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “KeyBank’s support and alignment with our strategy is an important step in strengthening our capital structure and funding Plymouth’s growth. Their familiarity with our portfolio and extensive experience in real estate lending were a perfect fit for us.”

About Plymouth

Plymouth is a full service real estate investment company structured as a vertically integrated, self-administered and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States. The company seeks to acquire properties that provide current operating income with the opportunity to enhance shareholder value through property re-positioning, capital improvements and restructuring tenant leases.