Hartman SPE and Benefit Street Partners Close on Exit Facility Allowing Hartman SPE to Go Effective on Chapter 11 Plan [Yahoo! Finance]
Franklin Resources, Inc. (BEN)
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Source: Yahoo! Finance
trust that is currently repositioning in an orderly manner into the self-storage asset class. Hartman SPE, LLC (the "SPE"), an indirect subsidiary, which owns legacy office, retail, and industrial properties, and lenders Benefit Street Partners ("BSP") and RMWC ("RWMC") are pleased to announce that they together successfully closed a $135 million exit facility (the "Exit Facility") on March 27, 2024 , allowing SPE to go effective on its Chapter 11 Plan of Reorganization today, March 28, 2024 . BSP provided $120 million with RMWC providing $15 million of the Exit Facility. Following intensive negotiations, the Company, BSP and RMWC have solidified their commitment to working together through this Exit Facility to achieve shared objectives. The closing continues and solidifies the pivot strategy currently in progress for Silver Star. Gerald Haddock , Executive Chairman of the Executive Committee of Silver Star, stated, "We are pleased to have finalized this agreement. The Exit Facilit
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