Saul Centers Closes $125M Credit Facility

BETHESDA, MD-Equity real estate investment trust Saul Centers Inc. has revealed it has closed a new three-year term, $125 million unsecured revolving credit facility. The nine-year-old company holds an option to extend to four years the term of the new facility, which is an expansion of a previous $70 million revolving facility the company closed on in 2000. As it has done in the past with previous such lines of credit, Saul will apply the funds to acquisition and redevelopment projects. There is currently $42.5 million outstanding under the new line.

“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.”