UDR Closes $200 Million Loan
Stock quotes in this article:
UDR
DENVER (AP) Real estate investment trust UDR Inc. said on Tuesday that it has closed a $200 million secured credit facility with Red Mortgage Capital Inc.
UDR said it would draw $107 million from the facility on Friday, which will mature in 10 years at 5.38 percent interest. UDR said its payments would be interest-only. The loan is backed by five properties. It said it would use the money to repay other debt. The rest of the facility can be borrowed within a year under similar terms. UDR shares rose 23 cents to $12.69 in morning trading.- Loading Comments...
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