American Realty III obtains $100 million revolver via RBS Citizens

By Susanna Moon

Chicago, July 27 - American Realty Capital Trust III, Inc. said it closed a $100 million revolving credit facility Thursday with RBS Citizens, NA.

Interest on the loans is Libor plus 210 basis points to 350 bps, according to a press release by the New York real estate investment program.

The facility contains an accordion that allows the company to boost commitments up to $250 million.

"This financing is important in that it gives ARCT III great flexibility and puts the company in position to execute its acquisition strategy as it closes its offering and enters into its operational stage," Nicholas S. Schorsch, chief executive officer of the company, said in the release.

American Realty Capital Trust, Inc. is a New York-based real estate company that owns and acquires single tenant free standing commercial real estate properties.

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