Peerage Realty Partners Completes $175 Million, Three-year Revolving Credit Facilities

Significantly increases financing capacity to fund future acquisitions and growth initiatives

TORONTO, Aug. 9, 2021 /CNW/ - Peerage Realty Partners ("Peerage Realty"), a leading North American luxury residential real estate services firm, is pleased to announce that it has successfully completed approximately C$175 million, three-year revolving credit facilities.

The revolving credit facilities also provide access to additional financing of approximately C$75 million on an uncommitted basis through an accordion provision under the same terms, bringing the total financing capacity of the facilities to approximately C$250 million.

The Lead Arranger, Sole Bookrunner, and Administrative Agent for the financing was Bank of Montreal.

The syndicate of banks includes incumbent Bank of Montreal, as well as new participants, J.P. Morgan Chase Bank, N.A., Toronto Branch, Canadian Imperial Bank of Commerce, and HSBC Bank Canada.

Echelon Capital Markets acted as exclusive financial advisor to Peerage Realty in the arrangement of the credit facility.

"Our ability to complete a new and expanded credit facility is a significant vote of confidence by our lending syndicate. The new, three-year commitment provides us with a substantial increase in our expansion capital to further our acquisition growth plans for the future," said Gavin Swartzman, President and CEO of Peerage Realty.

He added: "The new facility is a further recognition of our strategy and our 14-year track record of success. We look forward to expanding our relationships with our bank syndicate partners in the years ahead."

"The new partnership will bolster our strategic and highly disciplined growth and acquisition plans," said Trevor Maunder, President and CEO of Peerage Capital, parent company of Peerage Realty. "The combination of this financing coupled with our strong organic growth and free cash flow will enable us to capitalize on the unique opportunity in the marketplace. Our ambition is to build one of the premier luxury residential real estate service firms in North America."

ABOUT PEERAGE REALTY PARTNERS

Peerage Realty Partners is a leading North American partner in the luxury residential services sector. It serves its clients through two innovative service platforms: Peerage Realty Brokerage, one of North America's leading partners in the luxury residential real estate brokerage industry; and Peerage Realty Services, one of the leading providers of residential real estate services including financing, asset management and home improvement services.

Peerage has the unique benefit of being a privately-owned enterprise that is positioned to commit to Perpetual partnerships and long-term investments.

Peerage Realty's partners now include: Baker Real Estate, the leader in new development and condominium sales and marketing in the Greater Toronto Area and Montreal; BakerWest, a new construction condominium sales and marketing firm in Vancouver;  Chestnut Park, one of the top luxury firms in Ontario; Epic Real Estate Solutions, condominium marketing experts with a focus on the interior of British Columbia; Fifth Avenue Real Estate Marketing, a leader in new development and condominium sales and marketing in British Columbia; Four Seasons Sotheby's International Realty, a luxury firm in Vermont and New Hampshire; Jameson Sotheby's International Realty, a luxury firm in the Greater Chicago Area; Madison & Company Properties, a leading luxury brokerage in Denver, Colorado; Ourboro, a company that takes co-ownership stakes in homes by helping buyers with their down payments; Sotheby's International Realty Canada, a national luxury real estate brokerage; and StreetCity Realty, a progressive brokerage and back office services provider in Ontario; The Byng Group, a leader in the rent-readiness market; and The Condo Group, a leading residential sales and marketing firm based in Victoria, B.C. 

Through its partner firms, Peerage Realty will sell over US$23.6 billion (C$30 billion) of residential real estate in 2021. It has over 4,000 best-in-class sales representatives and 143 offices across North America.

To support the growth and expansion among its partners, Peerage Realty consistently provides expansion capital, strategic input, technology, operational expertise, and a range of value-added products and services that differentiate and strengthen their brands in luxury real estate markets.

Its goal is to expand the suite of services that partner firms can offer to enhance the client experience through all phases of a real estate transaction and beyond. By providing value-added services, Peerage has enhanced the sustainable profitable growth rate of its operating partners for more than 14 years.

To learn more about the Peerage partnership model visit www.peeragerealty.com.

ABOUT PEERAGE CAPITAL GROUP

Peerage Capital is a leading North American business services and private investment firm. Peerage Capital is focused on partnering with exceptional, entrepreneurial management teams to form long-term investments across several strategic business services platforms including real estate services, real estate development and management, land assembly, self-storage, asset management and wealth advisory services.

A growing network of partner companies employs over 3,000 people across Canada and the United States with approximately US$7.87 billion (C$10 billion) in total assets under management (AUM) and administration and transacting over US$14.2 billion (C$18 billion) in annual sales of residential real estate sales in 2020. It is projected to sell over US$23.6 billion (C$30 billion) in 2021.

Peerage Capital focuses on service sectors where there are opportunities to achieve scale through both organic growth as well as through acquisition, operating synergies, and brand differentiation.

It supports the partner firms in which it invests by providing capital as well as a team of experienced professionals who add value in such areas as strategy, finance, technology, marketing, mergers and acquisitions, and communications.

 Peerage Capital believes that superior talent is the ultimate driver of long-term growth and success. It operates with a strong culture of partnership, collaboration and alignment of interests, both economic and cultural. Peerage Capital's unique "Professional Partnership" model has been refined over 40 years to accelerate growth through value-added services that enhance the sustainable, profitable growth rate of the organization, maximizing value for all stakeholders.

SOURCE Peerage Realty Partners Inc.

Deirdre McMurdy, Vice-President, Corporate and Partner Communications, Peerage Capital, Tel: [phone], Email: [email protected]

Related Links

www.peeragerealty.com