"In a time of significant tightening in the credit market, thisunsecured loan speaks to the financial strength of our company,"said Donald A. Miller, CEO of Piedmont, in a release. "This allowsus obvious flexibility as we continue to manage and shape ourcapital structure and portfolio of properties for ourinvestors."

One day before obtaining the term loan, Piedmont closed on anacquisition by drawing on its existing revolving line of credit,says Owens. The company gained 100% ownership interest in RockSpring II LLC, an entity that owned Opus Center at Rock Spring ParkII, a class A office building in suburban Washington, DC. Piedmonthad acquired the adjoining Opus Center at Rock Spring Park I, ownedby a sister entity, at the end of last year, and has now renamedthe brand new, vacant buildings Piedmont Pointe I and II.

Both buildings, located on Rockledge Drive in Bethesda, MD,total 407,000 sf and include amenities like outdoor terrace areas,a fitness center and underground executive parking lot. Jones LangLaSalle will handle market leasing opportunities for theeight-story properties.