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Key Lands Inland $100M Revolving Credit Line

PHILADELPHIA-Cleveland, OH-based Key Commercial Real Estate, the lead arranger and underwriter for the transaction for Oak Brook, IL-based Inland Real Estate Corp., holds $35 million of the loan, with the remaining $65 million

By Marita Thomas | Updated on August 30, 2002

PHILADELPHIA-Cleveland, OH-based Key Commercial Real Estate has secured a$100-million, unsecured revolving line of credit for Oak Brook IL-based Inland Real Estate Corp. for its retail REIT subsidiary. As the lead arranger and underwriter for the transaction, Key will serve as the administrative agent and hold $35 million of the total loan.

The remaining $65 million is syndicated to Boston-based Fleet Bank and Frankfurt,Germany-based Dresdner Bank.

The transaction, at undisclosed terms, is underwritten by KeyCRE’s institutional client segment group and syndicated by its real estate syndication group. It is structured as an unsecured line of credit that is not governed by an unencumbered pool of assets.

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