AMLI Modifies Credit Facilities

AMLI Residential Properties Trust, a real estate investment trust based in Chicago, has announced modifications to its three unsecured bank credit facilities.AMLI said it has amended the terms of its primary and secondary revolving lines of credit, increasing the commitment amounts to $250 million and $20 million, respectively; extending the maturity dates for new three-year terms (with one-year extension options); and modifying the pricing structures and certain covenants. The primary line is provided by a bank group that includes J.P. Morgan Chase Bank, co-lead arranger and administrative agent, and Key Bank, co-lead arranger and syndication agent. The secondary credit line is provided by Harris Bank. In addition, AMLI reported that it has modified the pricing structure and certain covenants on its $110 million unsecured bank term loan to align its terms with those of the other two facilities. The term loan is provided by a bank group that includes Wells Fargo Bank as lead arranger and agent. The REIT can be found online at http://www.amli.com.