Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLEVELAND, OH-Developers Diversified Realty has paid off the outstanding amounts on its revolving credit facilities with a secured loan with Key Bank and Bank of America. The secured term loan matures in June 2008 with two one-year extensions. The initial amount of the loan is $220 million. The agreement includes an accordion feature that allows for a future increase to $400 million. The interest rate is based on grid pricing determined by the company’s corporate credit ratings from S&P and Moody’s. The interest rate on the loan is currently 0.85% over LIBOR.Developers Diversified owns or manages approximately 108 million sf in 470 operating and development retail properties nationwide.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.