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Friday, June 6, 2008

Behringer Harvard Closes Credit Facility

From the Reuters another impact of the credit crisis (or perceived credit crisis):

Behringer Harvard announced today that it recently closed on a $75 million secured credit facility on behalf of Behringer Harvard Opportunity REIT I, Inc. The credit arrangement will help to facilitate the ongoing acquisitions, capital improvement and development activities of the REIT. ..."This credit facility puts our Opportunity REIT I in a strong position to continue pursuing its strategic goals for value creation," said Robert M. Behringer, founder and chief executive officer of Behringer Harvard. "It also speaks highly of our capital markets group and team of lenders who were able to put together this arrangement in the midst of a difficult credit market."

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