AH Realty Trust completes property sales and debt restructuring

AH Realty Trust (NYSE: AHRT) announced the completion of several transactions, including property dispositions and financing arrangements aimed at reducing debt and extending debt maturities.

The company sold The Everly and Solis Gainesville II, a combined 407-unit multifamily portfolio in Gainesville, Georgia. A partner also completed the sale of Solis Kennesaw, marking AHRT's exit from its final real estate financing investment.

On the financing side, AHRT recasted its unsecured credit facility, consolidating previously separate term loans into a $150 million revolving credit facility and two $200 million term loans maturing in 2030 and 2031. The company also closed a new $100 million seven-year term loan maturing in 2033, and refinanced a $121.8 million loan on the Constellation Energy Building at Harbor Point, extending its maturity from November 2026 to October 2029.

Proceeds from the dispositions were used to reduce debt, bringing leverage within the company's long-term target range of 5.5x to 6.5x Net Debt to Total Adjusted EBITDAre. The company now reports no material debt maturities until 2029, with its weighted average debt maturity rising to 4.4 years from 2.0 years.

Since announcing a strategic transformation in February, AHRT has rebranded, sold its general contracting and real estate services business, and exited real estate financing. The company has now sold 11 of 13 multifamily properties identified for sale. Two remaining properties, Greenside and Premier, are under contract with affiliates of Harbor Group International. AHRT expects to close the Greenside sale in November 2026 and the Premier sale in the second quarter of 2027.

"With the transformation now substantially complete and no material maturities until 2029, AH Realty Trust is a simpler, stronger retail and mixed-use office REIT," said Shawn Tibbetts, Chairman, President and Chief Executive Officer.

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