MIAMI BEACH-Equity One Inc., which owns, develops and operates shopping centers, has used its accordion feature to increase its unsecured revolving credit from $272 million to $400 million.
Four new banks were included in the already available credit facility without modifying the covenants and terms and many current banks were included according to their earlier commitments. The firm presently owns $14 million as the pending amount on the line for a LIBOR+1.4% interest rate. For the full story, go to Florida Real Estate Journal.
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