Industry News
LTC Properties Signs $80M Unsecured Credit Agreement
July 18, 2008

LTC Properties Inc. had signed a $80 million, three-year Unsecured Credit Agreement, the company said today. The Credit Agreement provides for the opportunity to increase the credit amount up to a total of $120 million. The prior agreement did not have an expansion provision.The Chicago branch of Bank of Montreal is the administrative agent, BMO Capital Markets is co-lead arranger and book manager, Key Bank National Association is co-lead arranger and syndication agent, and Raymond James Bank, FSB and Royal Bank of Canada are additional lenders under the Unsecured Credit Agreement. The agreement provides a revolving line of credit with no scheduled maturities other than the maturity date of July 17, 2011, and allows LTC Properties to borrow at the same interest rates applicable to borrowings under its prior credit agreement. As of July 17, LTC had no outstanding borrowings under the Unsecured Credit Agreement.

 
Recent Industry News Headlines
Chemical Company Stays Put at Suburban Phoenix Home with 53,000-SF Lease Renewal
Sept. 05, 2008
BioLab Inc. has decided to extend its commitment to its digs at 5555 North 51st Avenue in Glendale, Ariz., with the signing of a new seven-year lease.
Two Orange County Industrial Buildings Financed
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First mortgage financing has closed for Etchandy Commerce Center and Etchandy Industrial Complex II, two industrial parks encompassing an aggregate 207,000 square feet in Orange County
Financing Closes for New Jersey Retail/Office Center
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The 185,000-square-foot office and retail property at 2143 State Route 35 in Holmdel, N.J., has been financed to the tune of $17.4 million.
Miami Medical Office Building Trades at $316 Per-SF
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The 53,700-square-foot Sunset Professional Center at 6280 Sunset Dr. in Miami has come under new ownership, courtesy of a transaction valued at approximately $17 million.
Houston Hotel Emerges from $22M Makeover
Sept. 05, 2008
Sunstone Hotel Investors has wrapped up its reinvention of the former Wyndham Greenspoint Hotel, re-opening the 480-room property as the Hilton Houston North.
 

 

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