Invico Diversified Income Fund (IDIF) is pleased to announce it has extended a revolving credit facility on a demand basis of up to $30.0 million for a leading Canadian real estate management company.
The deal marks the largest ever closed in the fund’s history and served as the fifth transaction in Q2 2021. An initial draw of $25.0 million was used to acquire a portfolio of multifamily residential properties in Alberta. The three-year revolving facility offers an industry-competitive interest rate, a standby fee on unutilized portions of the principal amount, and security.
“As IDIF continues to scale, we are well-positioned to close larger transactions in the future,” said Allison Taylor, Chief Executive Officer of Invico Capital Corporation. “This deal allowed us to deploy an accretive and meaningful amount of capital in a stable base of assets, and thus offer a highly attractive opportunity to our unitholders.”