Keystone Property Trust obtains $75 million loan

By Sara Rosenberg

New York, Sept. 15 - Keystone Property Trust closed on a $75 million five-year unsecured term loan. Wells Fargo Bank acted as administrative agent on the deal, which is expected to syndicate in the future.

Pricing on the term loan can range from Libor plus 135 basis points to Libor plus 175 basis points, depending on the company's leverage, according to a news release.

Proceeds were used to pay down the company's existing $185 million unsecured credit facility.

Keystone Property Trust is a West Conshohocken, Pa. real estate investment trust.

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