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Bridge Investment Group Closes $150 Million Senior Notes and Refinances its Senior Secured Credit Facility

SALT LAKE CITY–(BUSINESS WIRE)–Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced that it has completed the closing of $150 million of senior notes and refinanced its facility senior secured credit facility (“Credit Facility”), increasing it from $75 million to $125 million.

On June 3, 2022, the Company entered into a $150 million note purchase agreement pursuant to which its operating company, Bridge Investment Group Holdings LLC, issued two tranches of notes in connection with an offering private with a weighted average interest rate of 5.05% on the date of issue. Transaction includes $75 million 5.00% 10-year notes due July 12, 2032 and $75 million 5.10% 12-year notes due July 12, 2034 .

In addition, the Company refinanced a $75 million line of credit that was scheduled to mature in July 2022. The new credit facility was increased to $125 million and matures on June 3, 2024 (subject to extension in certain circumstances). In addition, the new credit facility can be increased up to $225 million, subject to certain criteria being met.

“These transactions strengthen our balance sheet and give us increased flexibility to continue to take advantage of organic and inorganic opportunities to accelerate growth,” said Katie Elsnab, the company’s chief financial officer. “We appreciate the support of our debt capital partners and look forward to working closely with them as we continue to pursue our attractive opportunity set.”

For the credit facility, CIBC, Inc. and Zions Bancorporation, NA d/b/a Zions First National Bank acted as co-lead arrangers.

The Notes have not been and will not be registered under the Securities Act of 1933 or the securities laws of any state or other jurisdiction and may not be offered or sold in the United States or any other jurisdiction in the absence of registration or exemption from registration requirements. of the Securities Act of 1933 and applicable securities laws of any state or other jurisdiction.

About Bridge Investment Group

Bridge is a leading vertically integrated real estate investment manager, diversified across specialty asset classes, with approximately $38.8 billion in assets under management as of March 31, 2022. Bridge combines its operating platform nationwide with dedicated teams of investment professionals focused on select U.S. real estate. real estate verticals: residential leasing, offices, development, logistics real estate, net lease and mortgage backed by real estate.

Forward-looking statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical fact may be forward-looking statements. In some cases, you can identify forward-looking statements by words such as “outlook”, “could”, “believe”, “expect”, “potential”, “opportunity”, “continue”, “may”, ‘will’, ‘should’, ‘over time’, ‘seeks’, ‘predicts’, ‘intends’, ‘plans’, ‘estimates’, ‘anticipates’, ‘expects’ or negative versions of these words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that these forward-looking statements are based on our beliefs, assumptions and expectations as of the date of our future performance, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those expressed or implied in forward-looking statements due to a number of factors, including, but not limited to, the risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge Investment Group Holdings Inc. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

Nothing in this press release constitutes an offer to sell or the solicitation of an offer to buy securities of the Company or any investment fund managed by the Company or its affiliates.

Mary Cashion

The author Mary Cashion