Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAFAYETTE, CA-Bedford Property Investors Inc. is using $18 million in new first mortgage financing from Washington Mutual. The money is being used to pay down the outstanding balance of the Company’s $150 million line of credit.

The financing consists of a five-year loan, bearing interest at a floating rate of a trailing one-year treasury plus 260 basis points. The loan is secured by a property located in Orillia, WA.

Bedford Chairman and Chief Executive Officer Peter B. Bedford says the financing allows the company to better and more efficiently address changes in market conditions and continue its investments in service center flex and high tech flex properties in the western United States.”

In afternoon trading Friday, share of Bedford were trading for $20.78, off 13 cents from Thursday’s close and off 57 cents from it’s 52-week high reached July 24. Its 52-week low is $18.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.