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Both loans should close within60 days. Highwoods HIW) says it will use the money to repa debt and for generalcorporate “We are very pleased with these loan which will further fortify our already healthyt balance sheet, enhance our liquidity and position Highwoodd to take advantage of future growth opportunities,” Ed president and chief executive officer, said in a written According to Highwoods, the two loansz are: * A $115.0 million, 6.5-year secure d loan provided by at a fixedf rate of 6.875 percent. It is secured by a pool of 10 assetsin Nashville, Raleigh and Tampa. * A $47.3 7-year secured loan arranged by at a fixed rateof 7.
5 It is secured by the office portionb of RBC Plaza in Raleigh. Highwoods also announced that it has paid off a secureds loanof $107 million, which carried a rate of 7.8 percent and was originally scheduled to mature in November 2009. Therre were no prepayment penalties.
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