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Highwoods Closes on $162M in Secured Loans PDF Print E-mail
Monday, 10 August 2009 10:21
Highwoods Properties Inc. closed on two secured loans totaling $162 million, one a $115 million, six-and-a-half-year loan provided by New York Life Insurance Co. at a fixed rate of 6.875 percent, secured by a pool of 10 assets in Nashville, Raleigh and Tampa, and the other a $47.3 million, seven-year loan from Western-Southern Life Assurance Co. at a fixed rate of 7.5 percent, secured by the office portion of RBC Plaza in Raleigh. Highwoods used a portion of the proceeds to pay off in full the $91 million outstanding under its $450 million unsecured credit facility.




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