Wednesday, September 1, 2010

Liberty Property gets new line of credit

"Liberty Property Trust closed on a new $500 million unsecured revolving credit facility, replacing its previous $600 million credit facility that was scheduled to come due in January.

The new line of credit matures Nov. 1, 2013, and contains an accordion feature which allows Liberty to increase the amount up to $750 million. For this financing, Banc of America Securities LLC and J.P. Morgan Securities Inc. were joint lead arrangers and bookrunners. Liberty is an office and industrial real estate investment trust based in Malvern, Pa. …

Sun Center Studios will top off a 30,000-square-foot office building that is part of an overall $85 million project that includes movie studios on 33 acres off Concord Road in Aston. Production companies are expected to lease the office space. At build-out the facility will total 270,000 square feet … Obermayer Rebmann Maxwell & Hippel, a Philadelphia law firm, relocated its Cherry Hill office into 7,300 square feet at Woodland Falls Corporate Park at 200 Lake Drive East. The firm had been in 6,000 square feet at 20 Brace Road …

Pendent Systems bought 1670 Winchester Road, a 24,000-square-foot building in Bensalem, for an undisclosed amount. The company is a maker of pendants , canopy sets and cable parts used in fluorescent lighting suspension, track lighting, exit lighting and HID lighting markets."

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.