Federal Realty Investment Trust, Rockville, Md., has announced the closing of a new $550 million unsecured credit facility to replace its $300 million revolving credit facility and $125 million term loan.The equity real estate investment trust said the new facility consists of a $150 million five-year term loan, a $100 million three-year term loan, and a $300 million three-year revolving credit facility, with a one-year extension option. The term loans bear interest at 95 basis points over the London interbank offered rate, and the revolving facility is priced at 75 bps over LIBOR. The REIT can be found on the Web at http://www.federalrealty.com.
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