Green Brick Partners, Inc. (GRBK)

[Enterprising Investor]

Green Brick Partners Announces Additional Lender and Expansion of Credit Facility (9/01/16)

PLANO, TX--(Marketwired - September 01, 2016) - Plano-based Green Brick Partners, Inc. (NASDAQ: GRBK) (the "Company") announces that Flagstar Bank has agreed to join its line of credit facility with a $20 million funding commitment. Citibank, N.A. serves as administrative agent for the revolving credit facility and also participates as a lender.

This addition of Flagstar Bank increases the aggregate commitment on the line of credit to $60 million. The facility is unsecured with a rate tied to 30-day LIBOR, which yields a current pay rate of approximately 3%.

Further, the Company announces that it has received approvals from Citibank and Credit Suisse, both lenders to the credit facility, to expand the maximum amount of the credit facility. The accordion feature of the facility allows Green Brick Partners to expand the line of credit from its current maximum size of $75 million to the new approved limit of $110 million. With this agreement, the Company can obtain commitments for another $50 million, as needed, that would bring the aggregate lender commitments to $110 million.

Green Brick Partners is filing an 8-K with the U.S. Securities and Exchange Commission with further information about this agreement.

About Green Brick Partners, Inc.:

Green Brick Partners, Inc. (NASDAQ: GRBK) is a uniquely structured company that combines residential land development and homebuilding. The Company acquires and develops land, provides land and construction financing to its controlled builders and participates in the profits of its controlled builders. The Company owns a controlling interest in four homebuilding companies in Dallas, Texas (CB JENI Homes DFW LLC, Normandy Homes (a division of CB JENI), Southgate Homes DFW LLC, and Centre Living Homes, LLC), as well as a leading homebuilder in Atlanta, Georgia (The Providence Group of Georgia, L.L.C.). The Company is engaged in all aspects of the homebuilding process, including land acquisition and the development, entitlements, design, construction, marketing and sales and the creation of brand images at its residential neighborhoods and master planned communities. For more information about Green Brick Partners, Inc.'s homebuilding partners go to www.greenbrickpartners.com/building-partners.html.

http://www.marketwired.com/press-release/green-brick-partners-announces-additional-lender-and-expansion-of-credit-facility-2155141.htm