Business Context and Reporting Period
This Form 8-K was filed by ARC Realty Finance Trust, Inc. on July 22, 2013, reporting an event that occurred on July 17, 2013. The registrant is a Maryland corporation with principal executive offices in New York, New York.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or liquidity metrics. The primary financial disclosure relates to a change in credit facility capacity:
- Credit Facility: Unsecured revolving line of credit with AR Capital, LLC (parent of the sponsor).
- Previous Capacity: $5.0 million.
- New Capacity: $10.0 million.
Material Changes
On July 17, 2013, the Company entered into an amendment to its existing credit agreement. This amendment doubled the aggregate financing available under the unsecured revolving line of credit from $5.0 million to $10.0 million. The filing states that no other terms of the line of credit were changed.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or specific risk factors beyond the standard disclosure that the summary of the credit agreement is qualified by the full terms of the agreement. The full text of the credit agreement and the amendment will be filed as exhibits to the Company's next quarterly report on Form 10-Q.
Investor Verification Checklist
- Verify the full terms of the amended credit agreement in the upcoming Form 10-Q filing.
- Confirm the relationship and terms between ARC Realty Finance Trust, Inc. and AR Capital, LLC.
- Note that the filing text does not provide data on the Company's current utilization of the credit line or its overall debt load.