ogarawo.wordpress.com
The Birmingham-based real estate investment trust (NYSE: CLP) said the facilitty is comprisedof $145.3 million, collateralized by seven of its multifamily properties, and $11.1 collateralized by one multifamily said a news release. Proceeds from the facility will go towardx repayingColonial Properties’ $675 million unsecured line of which now has an outstanding balanc e of $183 million. Grandbridge Real Estate Capital LLC originated the facility for repurchase byFannie Mae.
Coloniakl Properties also said it updated its 2009 guidances to reflect an increase in projected reductions in corporate generakl and administrative expenses and revision to its growth expectations for same-property revenue, expense and net operatinb income. As part of the updated the company expects to savenearlyu $7 million annually from 135 companywide job eliminationss that were made starting in 2008, renegotiations with consolidation of offices and restructuringg of travel and expensde policies, said the release.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment