ATLANTA, GA (BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust (the “Company”), today announced that its operating partnership, Post Apartment Homes, L.P. (the “Operating Partnership”), amended its $300 million unsecured syndicated revolving line of credit facility and its $30 million unsecured cash management line of credit facility.
The Operating Partnership also entered into a new $300 million unsecured bank term loan facility, under which it currently has $100 million of outstanding borrowings, with $200 million of additional borrowing availability through July 17, 2012.
The amended credit facility, provided by a syndicate of eleven financial institutions and arranged by Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, provides for a $300 million unsecured revolving line of credit which has an initial four-year term maturing in January 2016, with a one-year extension option.
The new credit facility amends the Operating Partnership’s existing $300 million unsecured revolving credit facility.
For a complete copy of the company’s news release, please contact Chris Papa (top right photo) , Executive Vice President and Chief Financial Officer of the Company at
404-846-5000
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