REIT FINANCING: DESCRIPTION

In response to the capital demands fueling the explosive growth that REITs have enjoyed, McKenna Long & Aldridge has been extraordinarily active in structuring, negotiating and documenting credit facilities that are on the leading edge of this area of finance. Since 1993, our lawyers have been engaged in transactions aggregating over $15 billion. Typically, our firm has represented the lead lender in these syndicated credits. As such, we have worked closely with the players that are most active in purchasing these credits, and are intimately familiar with their investment requirements and concerns. In balancing the often competing concerns of lender, borrower and syndicated investor, we have been successful in designing creative risk mitigation techniques that provide the requisite level of assurances to the lender and investor without unduly prejudicing legitimate borrower interests.

Representative Transactions

• Representation of agent bank in connection with a $400 million unsecured revolving credit facility to a special purpose subsidiary of a real estate investment trust that owns office properties.
• Representation of agent bank in connection with a $300 million secured revolving credit and term loan facility to a real estate investment trust specializing in the development and ownership of retail shopping centers
• Representation of agent bank in connection with a $400 million revolving credit facility to real estate investment trust focusing primarily on office/laboratory properties. 
• Representation of agent bank in connection with a $350 million unsecured revolving credit facility with competitive advance feature to a real estate investment trust engaged principally in the development and ownership of retail shopping centers.  
• Representation of agent bank in connection with a $110 million revolving credit facility to a real estate investment trust secured by retail shopping centers located in numerous states.