(Read more on the debt and equity markets.)

DALLAS-Behringer Harvard has closed on a $500-million secured credit facility on behalf of Behringer Harvard REIT I Inc., and the company’s flagship core office real estate investment program. The deal includes a $200-million term loan and a $300-million revolving credit facility, each with a three-year term and a one-year extension option.

KeyBanc Capital Markets and Wachovia Securities were co-lead arrangers on the transaction. Wachovia Bank NA served as syndication agent while Aareal Bank AG and Westdeutsche Immobilienbank AG were co-documentation agents. KeyBank NA will serve as administrative agent for the facility.

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