Correctional Properties Trust, Palm Beach Gardens, Fla., has announced the completion of an amended three-year bank credit line that consists initially of a $95 million secured revolving credit facility.The amended facility contains provisions to expand the total to $200 million by increasing the revolver or originating a new term loan of up to $100 million. Banc of America Securities LLC was the sole lead arranger and book manager for the transaction. The real estate investment trust can be found on the Web at http://www.correctionalpropertiestrust.com.
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