CB Richard Ellis Realty Trust gets $75 million credit facility

By Sara Rosenberg

New York, Sept. 5 - CB Richard Ellis Realty Trust closed on a new $75 million one-year credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Bank of America acted as the lead bank on the deal that was completed on Aug. 30.

The credit facility consists of a $65 million term loan and a $10 million revolver, with both tranches priced at Libor plus 125 basis points.

Proceeds were used to help fund the acquisition of a fee interest in a portfolio of 30 distribution and manufacturing industrial buildings located in North and South Carolina for $214.17 million.

CB Richard Ellis Realty Trust invests primarily in office, retail, industrial and multifamily residential properties.

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