Kilroy Realty Corp., Los Angeles, has increased the size of its unsecured revolving credit facility to $550 million and extended its term to April 2010.The facility is priced at 85-135 basis points over the London interbank offered rate, depending on the company's leverage ratio at the time of borrowing. The facility was syndicated to a group of 19 U.S. and foreign banks led by J.P. Morgan Securities Inc. and Banc of America Securities LLC. Kilroy, an office and industrial real estate investment trust, can be found online at http://www.kilroyrealty.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.
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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.
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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.
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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.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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