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Inland Western Retail REIT Gets $225M Line

OAK BROOK, IL-Seven participating lenders oversubscribed the unsecured revolving line of credit by $50 million, according to KeyBanc Capital Markets, which jointly arranged the financing with Banc of America Securities LLC.

By Mark Ruda | Updated on May 14, 2004

OAK BROOK, IL-Inland Western Retail Real Estate Trust has another $225 million of dry powder at its disposal for potential retail and mixed-use acquisitions. The REIT will pay LIBOR plus 175 basis points for the money, jointly provided by KeyBanc Capital Markets and Banc of America Securities LLC.

LaSalle, AmSouth, EuroHypo, PNC, Comerica, Erste and First Tennessee banks, along with Bank One, are participating lenders on the revolving line of credit. They ended up oversubscribing by $50 million, according to Cleveland-based KeyBanc.

The revolving credit limit has a one-year term.

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