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CHEVY CHASE, MD-CapitalSource Inc., a commercial finance company that began operating as a REIT at the first of the year, has revealed that it has obtained commitments from 11 institutions for an unsecured credit facility totaling $520 million. Wachovia Bank NA is acting as the agent on the transaction--which is subject to the traditional closing conditions--while Wachovia Capital Markets LLC is taking on the role of lead arranger for the syndicate of institutions.

CapitalSource also revised its balance sheet for the period ending Dec. 31, 2005. The firm noted a change regarding the originally recorded $2.3 billion of purchases of residential mortgage-backed securities and $2.2 billion of related repurchase agreements net on the consolidated balance sheet as derivatives representing a forward commitment to repurchase the mortgage-backed securities.

About $323.4 million of the mortgage-backed securities have now been recorded as assets. Approximately $311.3 million of associated repurchase financing has been put in the liability column on the consolidated balance sheet. CapitalSource filed its annual report with the SEC today.