The account is being termed a "credit facility," according toSteve Richter, Weingarten senior vice president and CFO. He toldGlobeSt.com that the funds aren't earmarked for a specific purpose."The credit facility simply gives us an opportunity to develop andacquire properties as we've always done," he says."We utilizeborrowed funds to take advantage of opportunities and then werefinance the revolving credit line. It's the way we've alwaysoperated."

The new facility matures in November 2003 and contains aone-year extension, at the company's sole option, and includes acompetitive bid option that allows for auctions at lower pricingfor 30, 60 or 90 day funding, with a $175-million ceiling. Theinterest rate is LIBOR plus 50 basis points.

Involved in the financing are Chase Securities Inc., Bank ofAmerica Securities LLC, Chase Manhattan Bank, Commerzbank AG, BankOne, First Union National Bank, PNC Bank, Compass Bank, SouthTrustBank, Sumitomo and Wells Fargo Bank.