Ramco-Gershenson Properties Trust, Southfield, Mich., has announced the renewal and expansion of its secured revolving credit facility with Fleet National Bank.The $110 million facility has been expanded to $125 million, and it contains an accordion feature allowing for a further increase of up to $25 million, the real estate investment trust said. The revolver bears an interest rate of 150-200 basis points above the London interbank offered rate, depending on the company's leverage ratios. In addition, Ramco amended its unsecured term loan with Fleet and Key Bank, allowing it to borrow up to $40 million, with a $10 million accordion feature. The shopping center REIT can be found on the Web at http://www.ramcogershenson.com.
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