GO RESIDENTIAL REIT ANNOUNCES ACCRETIVE REFINANCING OF ONE EAST RIVER PLACE, UNLOCKING ADDITIONAL LIQUIDITY

About this update from Go Residential Real Estate Investment Trust

[{"type":"text","content":"GO RESIDENTIAL REIT ANNOUNCES ACCRETIVE REFINANCING OF ONE EAST RIVER PLACE, UNLOCKING ADDITIONAL LIQUIDITY\n\n\nGO RESIDENTIAL REIT ANNOUNCES ACCRETIVE REFINANCING OF ONE EAST RIVER PLACE, UNLOCKING ADDITIONAL LIQUIDITY\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Oct. 16, 2025 /CNW/ - GO Residential Real Estate Investment Trust (the \"REIT\") (TSX: GO.U) is pleased to announce that it has successfully completed an accretive refinancing of One East River Place, a premier luxury high-rise multifamily property in Manhattan. The property has been refinanced with a new five-year term mortgage, increasing the outstanding principal by approximately US$64.5 million (from US$186.5 million to US$251.0 million).\nThe interest rate on the current outstanding amount of US$186.5 million (the \"Base Mortgage\") remains unchanged from the existing mortgage until the end of the second quarter of 2027 (the \"Original Term\"). As a result, there will be no impact to adjusted funds from operations (\"AFFO\")1 per unit from the difference on the Base Mortgage during that period. Beginning with the third quarter of 2027, the mortgage will have an interest rate of 5.02% until its maturity in September 2030.  Accordingly, the incremental proceeds of US$64.5 million will bear interest at 5.02% for the duration of the mortgage until its maturity in 2030.\nThe REIT used net proceeds to partially repay its line of credit bearing interest at a rate of the Secured Overnight Financing Rate (SOFR) + 1.75% (the \"Credit Facility\"). This repayment will be accretive to AFFO1 per unit and provide incremental financial flexibility. The refinancing also de-risks the REIT's near-term refinancing exposure, further enhancing the stability and predictab...

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