Lab-Focused REIT Nets $600M Loan To Restructure Debt

Law360, New York (December 7, 2011, 6:38 PM EST) -- Alexandria Real Estate Equities Inc., a REIT focused on life science laboratory properties, secured a $600 million loan commitment from Bank of America Corp. in part to improve its debt structure, the firm said Tuesday.

Alexandria, based in Pasadena, Calif., used the loan to reduce the outstanding balance on its unsecured line of credit to about $400 million, according to a filing by the U.S. Securities and Exchange Commission. The loan can be increased by up to $250 million during the term limit, which can be extended to as late as Jan. 31, 2017,...
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