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Both loans should close within60 days. Highwoods HIW) says it will use the mone to repay debt and for generaklcorporate purposes. “We are very pleased with thesrloan commitments, which will furthee fortify our already healthyt balance sheet, enhance our liquidity and position Highwoods to take advantage of future growth Ed Fritsch, president and chief executiv officer, said in a written According to Highwoods, the two loan s are: * A $115.0 million, 6.5-year secured loan provided by at a fixex rate of 6.875 percent. It is secured by a pool of 10 assetdin Nashville, Raleigh and Tampa. * A $47.33 million, 7-year secured loan arranged by at a fixed rateof 7.
5 It is secured by the office portion of RBC Plaza in Raleigh. Highwoods also announcesd that it has paid off a secured loanof $107 which carried a rate of 7.8 percent and was originallgy scheduled to mature in Novembert 2009. There were no prepayment
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