Jones LangLaSalle Income Property Trust Inc. boosted the borrowing capacityof its revolving line of credit to $150 million, which President and CEO Allan Swaringensaid in a release will give the company greater flexibility and increasedcapacity to pursue its strategic objectives.
The one-year term facility has a six-month extension optionand carries an interest rate equal to the LIBOR plus a spread of 1.55% to 2.25%.
Bank of America NA is the lender and administrative agentfor the facility, with Merrill Lynch Pierce Fenner & Smith Inc. serving aslead arranger.