CapLease said Monday it has extended its credit agreement with Wells Fargo Bank until July 2013. The $140m secured revolving credit facility provides more than $40m to finance new acquisitions, the locally based REIT says in a release. CapLease’s amended credit facility with Wells Fargo posts the interest rate at Libor plus 275 basis points.
Most Popular Articles
“Unlike the bubble years, purchase application data, existing home sales, new home sales, housing starts and the lack of cash-out refinancing all point to slow and steady growth.”
Pending home sales last month fell 4.9%, the largest drop in almost a decade, according to a NAR report.