SANTA ANA-Grubb & Ellis Healthcare REIT II Inc. has secured a $25 million revolving credit from Bank of America, NA. This credit will be used by the REIT for the acquisition of property and other corporate purposes. The credit carries an interest rate of 5% or 3.75% plus LIBOR.
The maturity date for the credit facility is set on July 19, 2012, but has the option of being extended by a year if certain conditions are met. For the full story, go to Florida Real Estate Journal.
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