Finance REITs
Brookfield Real Estate Services Fund Announces Interest Rate Swap Agreement
May 5, 2008

Brookfield Real Estate Services Fund has announced that it has completed an interest rate swap agreement with the Canadian Imperial Bank of Commerce, which fixes the interest rate on its recently completed $15 million term facility at 4.29 percent with effect from April 7, 2008. As previously announced, the $15 million facility was completed on April 4, 2008 with the CIBC, bearing interest in the form of floating prime rate payable quarterly, or at bankers' acceptance rates plus 1 percent with terms of up to six months. The facility matures on February 17, 2010, the same date as the Fund's existing $38 million long-term debt obligations.

 
Recent REITs Headlines
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008
The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced.
Pair of SoCal Hotels Trade for $80M
May 14, 2008
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
Allen & O’Hara Closes $73M Student Housing Bond Issue
May 14, 2008
Allen & O’Hara Development Co., the development subsidiary of Education Realty Trust Inc., has closed on a $73.4 million bond issue for the development of a student housing project at Indiana University of Pennsylvania.
Simon to Sell $1.5B in Senior Notes
May 13, 2008
In a time when borrowing can be a daunting task, even for entities with sterling credit histories, companies are turning to other means to raise the capital they need, according to industry experts.
Redevelopment of Baltimore Suburb to Be a Model in Green
May 12, 2008
General Growth Properties' vision for Downtown Columbia, Md.'s renaissance will leave the master-planned community awash in green, the developer recently revealed to a crowd of area residents.
 

 

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