Inland Western Retail Real Estate Trust, Inc. (“Inland Western”) today announced that the company has obtained a commitment for new secured loans from JPMorgan Chase Bank, N.A. J.P. Morgan provided the $300 million non-recourse forward commitment that Inland Western will use to refinance 2010 debt maturities.
“This $300 million commitment, coupled with the $625 million loan we closed in December, demonstrates solid revitalization signs in the CMBS markets, as well as the existence of attractive credit in the marketplace for quality assets,” commented Steven Grimes, chief executive officer of Inland Western. “We are appreciative of JPMorgan’s continued strong support of Inland Western with this commitment.”
During the last twelve months, Inland Western has refinanced, including commitments, paid down and extinguished debt totaling $1.8 billion and has reached agreements or is in negotiations to extend another $396 million.
source here.
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