Republic Property Trust, a Washington, D.C.-based real estate investment trust, has announced the closing of a $150 million secured revolving credit facility by its operating partnership, Republic Property LP.The company said the principal amount may be increased by as much as $100 million under certain conditions. Borrowings will bear an interest rate of either 155-190 basis points above the London interbank offered rate or 0-50 bps above a base rate equal to the prime rate or the federal funds rate (whichever is greater). KeyBank NA was the administrative agent for the facility, and KeyBanc Capital Markets acted as the sole lead arranger.
Processing Content
