Glimcher Realty Trust, Columbus, Ohio, has announced the closing of a new $150 million secured bank credit facility.The real estate investment trust said the three-year facility replaces a line of credit that was scheduled to mature on Jan. 31, 2004. The interest rate will range from 1.15% to 1.70% over the London interbank offered rate, depending on the REIT's ratio of debt to total asset value. The line of credit is secured by a mortgage on three malls and 11 community shopping centers. Glimcher can be found on the Web at http://www.glimcher.com.
Glimcher Closes $150MM LOC
October 21, 2003, 2:00 p.m. EDT 1 Min Read
