Carlyle’s Global Credit Platform Agrees to Provide up to $300 Million in Growth Capital to Real Estate Investment Company Four Springs Capital Trust
Funds to Scale Up Four Springs’s Real Estate Portfolio
NEW YORK – Global investment firm The Carlyle Group Inc. (NASDAQ: CG) today announced that its Global Credit platform has agreed to provide up to $300 million in growth capital to Four Springs Capital Trust, a private Real Estate Investment Trust (REIT) focused on acquiring, owning, and actively managing a portfolio of single-tenant, income-producing properties throughout the United States, subject to long-term net leases. Four Springs plans to use the funds to scale up its portfolio which currently includes 122 properties across 29 states.
Alex Popov, Carlyle’s Head of Illiquid Credit Strategies, said, “We are pleased to support the expansion of Four Springs, a company with whom we have a long-standing relationship. The team has a strong track record of deploying capital in a thoughtful manner with a consistent approach to underwriting that focuses on both real estate quality and tenant creditworthiness. Leveraging insights from across Carlyle and our Global Credit platform, we moved quickly to assess this opportunity and provide a tailored solution that is designed to help Four Springs realize its considerable growth potential.”
Four Springs’s 122 properties are leased to 56 unique tenants across 31 different tenant types that fall into three major property types: Industrial, Medical and Retail. Carlyle developed an in-depth and differentiated view on many of Four Springs’s tenants using knowledge provided through direct investment in many of those tenants or past diligence on them and their competitors. Four Springs has an active acquisition pipeline, and expects to close on approximately $250 million of new properties within the next year.
William Dioguardi, CEO and Chairman of the Board of Trustees of Four Springs, said, “We are pleased to work with Carlyle, which is providing not just the capital we need to grow our business but also expertise across a range of sectors from which we look forward to benefiting as we identify new investment opportunities.”
Carlyle’s $59 billion Global Credit platform regularly pursues investments in privately negotiated capital solutions for upper middle market borrowers, including both private equity sponsored and family or entrepreneur owned businesses. This transaction adds to the approximately $1 billion in real estate credit that the Global Credit platform has invested since 2017.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.
About Four Springs Capital Trust
Four Springs Capital Trust is a private real estate investment trust that owns and operates a diversified portfolio of industrial, medical and service-oriented retail properties net leased to investment grade and other creditworthy tenants under long-term leases.