Memphis, Tenn. — Education Realty Trust increases revolving credit facility from $95 million.
Memphis, Tenn. — Education Realty Trust (NYSE: EDR) has closed on an unsecured revolving credit facility of $175 million, an increase from $95 million. The facility has an accordion feature which allows EDR to expand its size to $315 million. The credit facility has an initial term of three years. The transaction was led by KeyBanc Capital Markets with PNC Capital Markets LLC and Regions Capital Markets acting as co-lead arrangers. KeyBank, N.A., is acting as an administrative agent with the remaining lender group comprising Regions Bank, PNC Bank, National Association Bank of America, N.A., Metropolitan Bank and Royal Bank of Canada.
— Randy Shearin