X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAK BROOK, IL-Inland Western Retail Real Estate Trust has another $225 million of dry powder at its disposal for potential retail and mixed-use acquisitions. The REIT will pay LIBOR plus 175 basis points for the money, jointly provided by KeyBanc Capital Markets and Banc of America Securities LLC.

LaSalle, AmSouth, EuroHypo, PNC, Comerica, Erste and First Tennessee banks, along with Bank One, are participating lenders on the revolving line of credit. They ended up oversubscribing by $50 million, according to Cleveland-based KeyBanc.

The revolving credit limit has a one-year term.

While mixed-use properties may be among Inland Western Retail REIT’s acquisition targets, they will not include hotels, according to terms of the revolving credit limit.

KeyBanc acted as administrative agent, Banc of America as syndication agent and LaSalle Bank as documentation agent.

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?

GlobeSt

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.