New Facility Led by Wells Fargo Bank as the Administrative Agent and KeyBank & National City Bank as the Co-Documentation Agents
CINCINNATI, Oct. 31 /PRNewswire/ — Phillips Edison & Company today announced that it has completed a $100 million unsecured revolving credit facility. The facility is led by Wells Fargo Bank as the Lead Arranger and Administrative Agent, and KeyBank National Association and National City Bank as the Co-Documentation Agents.
“In this challenging credit environment, we are pleased with the strong support and confidence that Wells Fargo, KeyBank and National City have shown in our growth strategy,” noted Raymond D. Martz, Chief Financial Officer of Phillips Edison & Company. “This financing will allow us to continue to capitalize on opportunities in the market.”
“We are thrilled to have agented Phillips Edison’s credit facility and look forward to continuing to provide quality financial solutions to help them grow,” said Erin P. Peart, Senior Vice President at Wells Fargo Bank.
Phillips Edison & Company specializes in the acquisition, redevelopment, leasing, and management of anchored neighborhood and community shopping centers. The Company’s portfolio includes 221 properties, totaling over 24 million square feet in 34 states. The privately owned, fully integrated real estate company was started in 1991 and has corporate offices in Baltimore, Cincinnati and Salt Lake City. Additional information about Phillips Edison & Company is available at www.phillipsedison.com.
SOURCE Phillips Edison & Company
© 2007 PR Newswire. All Rights Reserved.