BRE Closes $750M LOC

BRE Properties Inc., San Francisco, has announced the closing of a $750 million unsecured revolving line of credit with a group of 18 lenders.The real estate investment trust said the new five-year facility bears an interest rate (based on current debt ratings) of 47.5 basis points above the London interbank offered rate. The joint lead arrangers of the LOC were Wachovia Capital Markets LLC and RBS Securities Corp. The REIT, which specializes in developing, acquiring, and managing apartments in the Western states, can be found online at http://www.breproperties.com.