Jones Lang LaSalle Property Income Trust has closed a $40 million revolving
It has a two-year term, with interest floating at Libor plus between 150 and 275 basis points. Besides acquisitions, it will be used to refinance existing debt, pay for property renovations, plus tenant and capital improvement and other general corporate purposes.
“This credit facility strengthens our ability to continue to pursue our strategic objectives and to further grow and diversify our portfolio of high-quality, institutional caliber real estate investments,” said president and CEO Allan Swaringen.
The company is structured as a nonlisted, daily valuation perpetual life real estate investment trust.
