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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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
10h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
11h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28