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

Executive Summary

• GO Residential REIT completed an accretive refinancing of One East River Place, adding US $64.5 million in principal and extending the mortgage term to five years (maturing September 2030).
• The incremental proceeds are being used to partially repay the REIT’s unsecured credit facility, which is expected to be accretive to AFFO per unit and increase financial flexibility.
• The refinancing de‑risks near‑term debt maturity, strengthens the balance sheet, and positions the REIT for continued growth opportunities.

Key Details

• Refinancing Structure: New five‑year term mortgage; total outstanding principal increased from US $186.5 million to US $251.0 million.
• Interest Rate Terms:
• Base Mortgage (US $186.5 M) – rate unchanged through Q2 2027, no impact on AFFO per unit during that period.
• Incremental Proceeds (US $64.5 M) – interest rate set at 5.02% from Q3 2027 to maturity in September 2030.
• Use of Net Proceeds: Partial repayment of the REIT’s Credit Facility, which bears SOFR + 1.75%.
• Financial Impact: Repayment of the credit facility is expected to be accretive to AFFO per unit and provide additional liquidity for strategic initiatives.
• Risk Mitigation: Extends debt maturity profile, reduces near‑term refinancing exposure, and enhances cash‑flow predictability.
• Balance Sheet Effect: Partial paydown of the Credit Facility increases borrowing capacity and supports potential growth acquisitions or investments.

Notable Quotes

“This early refinancing of One East River Place demonstrates our proactive approach to capital management and our commitment to enhancing unitholder value,” said Joshua Gotlib, CEO & CIO. “By locking in attractive long‑term financing… we have strengthened our balance sheet, reduced risk, and positioned the REIT for continued growth and flexibility.”