Under terms of the agreement, the company may use up to $100 million of the new facility for acquisition purposes.
News of the credit facility comes less than two weeks after the company announced it proposed a $177-million buyout of Miami-based M&M Aerospace Hardware Inc. Just days before that announcement, the company filed a universal shelf-registration statement to issue up to $250 million in subordinated notes or new stock--specifically for acquisition purposes.
When the deal with M&M Aerospace closes, B/E Aerospace would take control of a 201,827-sf industrial-warehouse building and 12 acres in the Miami-Dade County airport/west submarket, which M&M acquired in 1998 for about $5.2 million.
Not including the M&M property, B/E Aerospace B/E owns a portfolio of about 965,700 sf, and leases another 734,300 sf at various sites throughout the US and overseas.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
