REIT Closes $50M Credit Facility

Government Properties Trust Inc., a real estate investment trust based in Omaha, Neb., has reported the closing of a $50 million secured revolving corporate credit facility.The entire amount is available for loans over three years based on the combined value of certain collateral properties, and the revolver includes an accordion feature that allows for an expansion up to $225 million under certain conditions, the REIT said. Initial loans will bear interest at the London interbank offered rate plus 120 basis points. The facility was arranged by Wachovia Capital Markets LLC, and replaces a $50 million facility led by First National Bank of Omaha, which is participating in the new facility, the REIT said. The company can be found online at http://www.gptrust.com.