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Agree Realty Corporation
Agree Realty Corporation Obtains $24.8 Million Secured Term Loan
August 1st, 2008
Agree Realty Corporation (NYSE:ADC) announced it had obtained a $24.8 million term loan secured by seven of the Company's retail properties. The loan has an original term of five years, bears interest at 150 basis points over LIBOR and can be extended by the Company for an additional two year period. The loan was jointly arranged by LaSalle Bank Midwest National Association and Raymond James Bank. "The proceeds from this term loan will be applied against amounts outstanding on our unsecured $55 million Credit Facility," said Richard Agree, President and Chief Executive Officer of Agree Realty Corporation. "The completion of this transaction provides the Company...
Source: Health Business Week (2008-08-01)
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