Sunrise Realty Trust expands credit facility to $140 million

WEST PALM BEACH, Fla. - Sunrise Realty Trust, Inc. (NASDAQ:SUNS), a commercial real estate lender with a market capitalization of $144 million, has increased its senior secured revolving credit facility to $140 million with the addition of EverBank, N.A. as a new lender. The expansion, announced today, includes a $50 million commitment from EverBank to the facility, which was originally established with East West Bancorp, Inc. in November 2024. According to InvestingPro data, the company maintains a strong current ratio of 4.72, indicating robust liquidity to meet its obligations.

The credit facility, which remains expandable up to $200 million, is designed to support the company’s unfunded commitments, fund its commercial real estate loan pipeline, and provide general working capital. Leonard Tannenbaum, Executive Chairman of SUNS, highlighted the expansion as a testament to the company’s strong lending platform and the trust it has built with financing partners.

Kevin Mammoser, Managing Director at EverBank Structured Real Estate, expressed confidence in supporting SUNS’s growth and the company’s strategy to provide customized loan structures for borrowers.

Sunrise Realty Trust focuses on financing transitional commercial real estate projects with near-term value creation potential, primarily in the Southern United States. The company prioritizes top-tier assets in established and expanding markets.

EverBank, a nationwide specialty bank, provides a variety of services to consumer and commercial clients, emphasizing high-yield solutions and exceptional service.

The information regarding the credit facility expansion is based on a press release statement.

In other recent news, Sunrise Realty Trust reported stable financial results for the first quarter of 2025, with distributable earnings of $0.31 per share and a net interest income of $4.6 million. The company declared a dividend of $0.30 per share, maintaining consistency in its payout strategy. Total assets were reported at $234.4 million, while total shareholder equity stood at $184.8 million. Sunrise Realty Trust also announced significant new loan commitments totaling $168 million during the quarter, reflecting its continued focus on transitional commercial real estate in the southern United States. The company is planning to raise unsecured capital in the fourth quarter of 2025 and aims to expand its bank line to $200 million. Analysts from firms like Alliance Global Partners and B. Riley engaged with the company during an earnings call, discussing the evolving loan pipeline and the company’s strategy amid market volatility. Additionally, the company has five analysts covering its stock, up from one in 2024, indicating growing interest from the investment community. Sunrise Realty Trust anticipates earnings growth in the latter half of 2025 and into 2026, with expectations for accelerated funding of construction loans over the next 6 to 18 months.

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