Company Announcements

Terreno Realty Corporation Announces Private Placement of $125 Million 2.38% Nine-Year Senior Unsecured Notes

BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 18, 2021-- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the private placement of $125 million 2.38% nine-year senior unsecured notes.

The nine-year $125 million senior unsecured notes will bear interest at a fixed rate of 2.38% and the Company expects to close on or around October 28, 2021. Terreno Realty Corporation intends to use the net proceeds from the offering to fund future acquisitions and for other corporate purposes.

KeyBanc Capital Markets and U.S. Bancorp Investments, Inc. acted as joint-lead placement agents for the offering. The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, “seek”, “target”, “see”, “likely”, “position”, “opportunity”, “outlook” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

Jaime Cannon
415-655-4580

Source: Terreno Realty Corporation