Terreno Realty Corporation announced the closing of a new $100 million five-year unsecured term loan. The new five-year unsecured term loan will mature on January 15, 2028, and the interest rate generally will be SOFR plus 1.25% to 1.75%, depending on leverage. The current interest rate is SOFR plus 1.25%, and proceeds from the term loan were used to reduce borrowings under Terreno Realty Corporation's $400 million revolving credit facility to $10 million.

KeyBanc Capital Markets, PNC Capital Markets LLC and Regions Capital Markets served as joint lead arrangers and lenders, with KeyBank, N.A. as the administrative agent. Citizens Bank N.A. and Huntington National Bank also served as lenders. Other key participants are MUFG Union Bank, U.S. Bank, N.A., and Goldman Sachs Bank USA.