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COSTA MESA, CA-Shopping center development and investment firmDonahue Schriber has secured a $425-million credit facility thatmore than doubles its previous credit arrangement, with the newsecured line of credit also providing a lower interest rate thanits previous $200-million facility. The banks participating in thenew, three-year credit facility include Bank of America (agent),Wells Fargo Bank, Eurohypo AG, KeyBank, Union Bank of California,PNC Bank, US Bank, LaSalle Bank, Midfirst Bank, Comerica Bank andManufacturers Bank. The new agreement was arranged by Banc ofAmerica Securities. Larry Casey, CFO for Donahue Schriber, says thenew line of credit will provide additional flexibility foracquisition and development as the company expands its presence inthe grocery-anchored neighborhood and community center business.Casey describes 2004 as a record-breaking year for the company withmore than $560 million in development and acquisition activity,saying that the new credit facility will allow Donahue Schriber tocontinue its growth. The company's investment and developments thisyear added 11 centers to its portfolio, with two acquisitions andnine new developments in Arizona, Nevada, Southern and NorthernCalifornia. This year's activities included the opening of morethan 500,000 sf of new retail space during the fourth quarter, asreported in November on GlobeSt.com. The company, which hasoperated as a private REIT since January 1997, owns and/or operates65 neighborhood, community and power centers comprising more than11 million sf of retail space in California, Nevada and Arizona.The firm has developed or redeveloped over 17 million sf of retailspace in its 35-year history.