Mid-Atlantic Realty Trust, Lutherville, Md., has closed a $100 million, three-year, unsecured revolving credit agreement with a six-bank syndicate led by Allfirst Bank.Under the terms of the facility, MART has options to increase the facility to $125 million and to extend it for a year. The facility bears an interest rate of 115-180 basis points over the London interbank offered rate, depending on the leverage ratio of the real estate investment trust. The new facility replaces a $75 million credit line with Allfirst Bank. The REIT can be found online at http://www.martreit.com, and the bank can be found at http://www.allfirst.com.
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