"Washington REIT's expanded credit facility with improved financial covenants and term loan present an attractive source of capital that extends our liquidity and provides us with greater flexibility to make optimal capital allocation decisions for our shareholders," said Stephen E. Riffee, Executive Vice President and Chief Financial Officer of Washington REIT. "We thank our team of lenders for their long-term commitment to the growth and success of our company."Wells Fargo Bank, National Association served as administrative agent for the credit facilities. Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc. and Capital One, National Association served as joint lead arrangers for the revolving credit facility, and Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. served as joint bookrunners for the revolving credit facility. KeyBank National Association and Capital One, National Association also served as syndication agents for the revolving credit facility. U.S. Bank National Association, SunTrust Bank, and PNC Bank, National Association served as documentation agents for the revolving credit facility. Additional participants include Citibank, N.A., Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Morgan Stanley Bank, N.A., The Bank of New York Mellon, and Branch Banking and Trust Company. Wells Fargo Securities, LLC, Capital One, National Association and U.S. Bank National Association served as joint lead arrangers and joint bookrunners for the $250 million term loan. Capital One, National Association and U.S. Bank National Association served as syndication agents. Other lenders included Branch Banking and Trust Company, The Bank of New York Mellon, PNC Bank, National Association and SunTrust Bank. Washington REIT owns and operates uniquely positioned real estate assets in the Washington D.C. market. The company's portfolio of 49 properties consists of approximately 6.4 million square feet of commercial space and 4,268 multifamily apartment units. These 49 properties consist of 20 office properties, 16 retail centers and 13 multifamily properties. Washington REIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements in this press release preceded by, followed by or that include the words "believe," "expect," "intend," "anticipate," "potential," "project," "will" and other similar expressions. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, changes in general and local economic and real estate market conditions, the potential for federal government budget reductions, the risk of failure to complete contemplated acquisitions and dispositions, the timing and pricing of lease transactions, the availability and cost of capital, fluctuations in interest rates, tenants' financial conditions, levels of competition, the effect of government regulation, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2017 Form 10-K. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.CONTACT: Tejal Engman Vice President, Investor Relations E-Mail:firstname.lastname@example.org Tel 202-774-3200