09:11 AM EST, 01/02/2025 (MT Newswires) -- Ladder Capital ( LADR ) said Thursday that it has recently closed and upsized a revolving credit facility worth $850 million.

The company said the credit facility includes an "accordion" feature that allows it to increase total borrowing to up to $1.25 billion.

The credit facility replaces Ladder's previous $324 million one, which had no balance drawn at the time of closing.

The company said the new credit facility, which matures in 2028, will lower its cost of funds and increase its flexibility.