Senior Housing Properties Trust, Newton, Mass., has increased its $250 million unsecured revolving credit facility to $550 million and extended its maturity to 2009.The real estate investment trust said the facility includes an option to increase the amount to $1.1 billion under certain circumstances and to extend it for another year. The initial interest rate is 100 basis points over the London interbank offered rate, compared with LIBOR plus 145 bps on the previous facility. Wachovia Securities Inc. was the sole lead arranger for the modification of the facility. The REIT can be found on the Web at http://www.snhreit.com.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
4h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
4h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
4h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
7h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25