It has a three-year term and will be used for propertyacquisitions, working capital and general corporate purposes. GaryM. Holloway, chairman and CEO of the locally based specialty REIT,says it, "provides the company with additional financialflexibility" for continued growth and execution of its businessplan, which focuses on student and military housing.

Availability under the facility is limited to a base loan equalto 60% of the value of the company's unencumbered asset pool, whichcannot contain fewer that five student housing properties, and 50%of the management fees it receives from military housingprivatization projects and student housing projects. The REIT isthe guarantor of the credit facility.

GMH can elect to have the facility bear interest at a Eurodollarrate based on Libor, or at a base rate linked to the prime rateannounced by BofA, plus an "applicable rate" ranging between 1.5%and 2% for Eurodollar-rate loans, or between 0.625% and 1.375% forbase-rate loans. The leverage ratio between GMH's liabilities andthe total value of its assets determines the availability rate.