(Read more on the debt and equity markets.)
NEWPORT BEACH, CA-A joint venture of the Koll Co. and the Public Employees Retirement System of Idaho has arranged a $100-million credit line to finance acquisitions in a move to expand the joint venture's 5.3-million-sf portfolio.The venture, called Koll/PER, plans to use the credit line to acquire multi-tenant office and industrial properties in the six states where it currently owns and manages property.
Koll/PER arranged the senior unsecured revolving credit facility from a lending group headed by KeyBank Real Estate Capital, which served as the sole lead arranger and administrative agent, with US Bank as the documentation agent. Other participating lenders were Comerica Bank and Charter One Bank.
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