Urstadt Biddle Properties Inc., Greenwich, Conn., has closed a $50 million, three-year, unsecured revolving credit agreement with The Bank of New York Mellon and Wells Fargo NA. Under the terms of the facility, the real estate investment trust has an option to increase the facility to $100 million and two options to extend it for a year. The facility bears an interest rate, at the REIT's option, of either 85 basis points over the London interbank offered rate or 50 bps over BNY Mellon's prime lending rate.

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