RNY Property Trust announced that the Amended and Restated Senior Loan Agreement (Loan Agreement) with its US lender, ACORE Capital (Lender), has now been executed. The key terms of the new Loan Agreement are: a three-year term - comprising an initial 6-month term, one six-month extension and two 12-month extension terms following the initial term; interest only; an existing loan facility of USD 76.2 million, with USD 64.6 million having been drawn, leaving USD 11.6 million available for approved capital expenditures and leasing costs; a new mezzanine loan facility of USD 15.6 million to fund additional approved leasing costs and capital expenditures; and the company to complete the approved capital expenditure program in accordance with the timelines established. The company’s investment manager, Aurora Funds Management Limited, is pleased to have been able to execute this Loan Agreement given the challenges associated with COVID-19 and its impact on the broader New York market.