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$40,000,000 Agented Revolving Credit Loan to three Major, National Real Estate Investment Funds

Real Estate Finance, Corporate & Business, Real Estate, Banking & Financial Institutions

Hinckley Allen represented a major national bank, as Agent and Lender, in connection with a $40,000,000 real estate secured revolving credit loan, pursuant to which advances are calculated on a borrowing base formula. The Borrower sought a revolving line of credit for the purpose of working capital, tenant improvements, leasing commissions and general capital expenditures with respect to its national real estate portfolio. The Loan was made to the Borrower, and secured by seven (7) properties in three (3) states- Texas, California and Massachusetts, owned by subsidiaries of the Borrower. Each of the seven subsidiary property owners also provided a limited payment guaranty of the Borrower’s obligations. Hinckley Allen worked creatively with both our client and the Borrower with respect to the structure of the transaction, and played an integral role in the negotiation of the term sheet for the loan, the preparation and negotiation of all loan documents on behalf of the Agent, and the review and approval of due diligence, including review of the property specific due diligence for each of the seven (7) properties securing the Loan.