Sunrise Realty Trust (Nasdaq: SUNS) expands credit facility to $165M
Rhea-AI Filing Summary
Sunrise Realty Trust, Inc. amended its senior secured revolving credit facility, adding Customers Bank as a new lender and increasing total commitments by $25 million to $165 million. The facility, originally arranged with East West Bank in November 2024, remains expandable to $200 million, subject to conditions and additional lender participation.
The company plans to use the expanded revolver to fund new commercial real estate loan originations in its target markets, support future draws and unfunded commitments on existing loans, and manage liquidity and capital needs tied to portfolio growth.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On February 27, 2026, Sunrise Realty Trust, Inc., a Maryland corporation (the “Company”), entered into an amendment (the “Amendment”) to that certain Loan and Security Agreement, dated as of November 6, 2024 (the “Agreement”), as amended, by and among the Company and Sunrise Realty Trust Holdings I LLC, as co-borrowers, the lenders party thereto, East West Bank (“EWB”), in its capacity as administrative agent for each member of the lenders party and the bank product, EWB, City National Bank of Florida and Everbank, N.A., as joint lead arrangers, EWB as sole bookrunner, co-syndication agent and co-documentation agent thereto. The Amendment, among other things (i) facilitates the entry of another lender, (ii) increases the maximum revolver amount by an additional $25 million, for a total of $165 million, and (iii) revises the required lender consent requirement such that any action requiring lender consent shall require the consent of EWB and Everbank, N.A.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.9G hereto and is incorporated by reference herein.
On March 5, 2026, Sunrise Realty Trust, Inc. issued a press release announcing the Amendment to the Agreement. A copy of the press release is furnished as Exhibit 99.1 hereto.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description | |
| 10.9G | Amendment Number Seven to Loan and Security Agreement, dated as of February 27, 2026, by and among Sunrise Realty Trust, Inc., Sunrise Realty Trust Holdings I LLC, the lenders party thereto, and the joint lead arrangers, sole bookrunner, co-syndication agent, co-documentation agent and administrative agent party thereto. | |
| 99.1 | Press Release issued by Sunrise Realty Trust, Inc. on March 5, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SUNRISE REALTY TRUST, INC. | ||
| By: | /s/ Brandon Hetzel | |
| Brandon Hetzel | ||
| Chief Financial Officer and Treasurer | ||
Date: March 5, 2026
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Exhibit 99.1
Sunrise Realty Trust Expands Revolving Credit Facility to $165 Million
with Addition of Customers Bank
WEST PALM BEACH, FL, March 5, 2026 – Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced the expansion of its senior secured revolving credit facility (the “Credit Facility”) with the addition of Customers Bank. Customers Bank has committed $25 million to the facility, bringing total committed capital to $165 million. The Credit Facility, originally established with East West Bancorp, Inc. in November 2024, remains expandable to $200 million, subject to certain conditions and additional lender participation.
Proceeds from the Credit Facility will be used to finance the Company’s ongoing originations across its target CRE markets, fund future draws and unfunded commitments under existing loans, and manage liquidity and capital needs associated with portfolio growth.
Leonard Tannenbaum, Executive Chairman of SUNS, said, “We’re excited to add Customers to our financing group as we continue to broaden and diversify our bank relationships. Increasing total commitments to $165 million further strengthens our liquidity profile and enhances our ability to act quickly on attractive, well-structured opportunities while maintaining a disciplined approach to credit and portfolio construction.”
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS”) is an institutional commercial real estate (“CRE”) lender providing flexible financing solutions to sponsors of CRE projects primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding SUNS, please visit www.sunriserealtytrust.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage real estate investment trust (“REIT”), Sunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG, please visit www.theTCG.com.
About Customers Bancorp, Inc.
Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation’s top-performing banking companies with over $24 billion in assets making it one of the 80 largest bank holding companies in the U.S. Customers Bank’s commercial and consumer clients benefit from a full suite of technology-enabled tailored product experiences delivered by best-in-class customer service distinguished by a Single Point of Contact approach. In addition to traditional lines such as C&I, commercial real estate, and residential and personal lending, Customers Bank also provides a number of national corporate banking services to clients in businesses including: fund finance, venture banking, healthcare, mortgage finance, and equipment finance. Major accolades include:
| ● | Named a Top 10 Performing Bank by American Banker for five consecutive years (2021-2025), including the #1 spot in 2024 among midsize banks ($10B to $50B in assets) |
| ● | No. 45 out of the 100 largest publicly traded banks in 2026 Forbes Best Banks list |
| ● | Net Promoter Score of 81 compared to industry average of 41 |
A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender. Learn more: www.customersbank.com.
About East West Bancorp, Inc.
East West Bancorp, Inc. (Nasdaq: EWBC) is a public company with total assets of $76 billion as of December 31, 2024. The company’s wholly owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California and operates over 110 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
ir@thetcg.com
Media Contact
Doug Allen
Dukas Linden Public Relations
646-722-6530
TCG@DLPR.com
FAQ
What did Sunrise Realty Trust (SUNS) change in its credit facility?
How large is Sunrise Realty Trust’s revolving credit facility after the amendment?
How will Sunrise Realty Trust (SUNS) use the expanded credit facility?
Who are the key banking partners in Sunrise Realty Trust’s credit facility?
What governance changes were made to Sunrise Realty Trust’s loan agreement?
Filing Exhibits & Attachments
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Agreements & Contracts
