Commercial Net Lease Realty Inc., an equity real estate investment trust based in Orlando, Fla., has increased its $225 million unsecured credit facility to $300 million and extended its maturity to May 2009.In addition, the facility's interest rate was reduced from 100 basis points over the London interbank offered rate to LIBOR plus 80 bps, the REIT said. The facility also contains a competitive bid option for up to 50% of the amount. Wachovia Securities was the sole lead arranger and book manager of the facility. The REIT can be found online at http://www.cnlreit.com.
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