REIT Closes $300M Credit Facility

Federal Realty Investment Trust, Rockville, Md., has announced the closing of a new $300 million unsecured revolving credit facility to replace its existing $300 million facility, which was scheduled to mature in October.The equity real estate investment trust said the new facility is priced at 42.5 basis points over the London interbank offered rate. Wachovia acted as the sole lead arranger and administrative agent for the facility. The REIT can be found on the Web at http://www.federalrealty.com.