"We took out the increase in the line of credit because we are in the market and evaluating operating properties for acquisition," Saul vice president of finance William Anhut tells GlobeSt.com. "We do have a couple of properties under consideration. They would be neighborhood or community grocery-anchored shopping centers."

While Saul's approximately 6.1 million-sf portfolio of 33 shopping center and office properties spans seven states and the District of Columbia, the concentration of its assets--about 80%--is in the metropolitan Washington, DC/Baltimore region. The remainder of its real estate includes three properties in Oklahoma, and one property each in Georgia, Kentucky, New Jersey, and North Carolina. It is unclear which particular area, if any, Saul will concentrate on in the acquisition and redevelopment activity made possible through its recent $125 million credit infusion. "At this time, we are not able to make an announcement about any future acquisitions," Anhut adds. "It's just too early to disclose."