Wheeler reduces debt under KeyBank credit facility to $52.13 million

By Sarah Lizee

Olympia, Wash., Sept. 12 – Wheeler Real Estate Investment Trust, Inc. said it reduced its debt under its KeyBank credit facility to $52,125,000 from $68 million, according to a press release.

“This is a significant step in our efforts to right-size our Key Bank facility, and another step toward accomplishing our overarching goals of having a solid, flexible balance sheet, consistent cash flows and a sustainable dividend,” president and chief executive officer David Kelly said in the release.

“We have more to accomplish, but we are pleased with our progress over these recent months.”

The shopping centers that have been refinanced from the KeyBank credit facility are Ladson Crossing in Ladson, S.C., Lake Greenwood Crossing, Greenwood, S.C., and South Park, Mullins, S.C., the company said.

The commercial real estate investment company is based in Virginia Beach, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.