EagleBank, the banking subsidiary of Eagle Bancorp, Inc., announced a $80 million expansion of a revolving credit facility that will be used by SolaREIT, a real‑estate investment trust focused on solar and battery storage projects. Atlantic Union Bank will serve as the book runner and administrative agent, while EagleBank will act as a syndication partner in the transaction.
The new line represents the fourth upsize of SolaREIT’s facility in the past three years, underscoring the company’s rapid growth in renewable‑energy infrastructure. Prior to this expansion, the facility was capped at $60 million, and the additional $20 million will provide SolaREIT with the liquidity needed to acquire land and finance new solar and storage sites across the United States.
The expansion signals strong confidence from the lending market in EagleBank’s credit profile. By providing additional liquidity, EagleBank enables SolaREIT to accelerate its project pipeline, while the syndication partnership demonstrates EagleBank’s capacity to participate in larger credit structures. Although the facility is a financing tool for SolaREIT, the transaction also highlights EagleBank’s active role in supporting the clean‑energy sector and its ability to secure favorable terms for its clients.
EagleBank’s involvement does not directly affect Eagle Bancorp’s earnings, but it showcases the bank’s lending strength and its willingness to back high‑growth renewable‑energy projects. The move positions EagleBank as a key financial partner for companies expanding in the clean‑energy space, potentially opening avenues for future syndications and client relationships.
"EagleBank is pleased to support SolaREIT as they continue to scale their renewable energy real‑estate platform," said Toby Haggerty, SVP and C&I Relationship Manager at EagleBank.
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