Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

 v2.3.0.11
Subsequent Events
6 Months Ended
Jun. 30, 2011
Subsequent Events  
Subsequent Events

NOTE 11: SUBSEQUENT EVENTS

On July 1, 2011 we executed an unsecured credit facility agreement that replaces and expands Credit Facility No. 2 from $262.0 million to $400.0 million, with an accordion feature that allows us to increase the facility to $600.0 million, subject to additional lender commitments. The new unsecured line of credit matures on July 1, 2014 with a one-year extension option and currently bears interest at a rate of LIBOR plus a margin of 122.5 basis points.

On August 5, 2011, we executed five separate contracts for the sale at a gain of our industrial segment for an aggregate purchase price of $350.0 million. The sales are expected to close in five separate settlements with the same buyer during the third and fourth quarters of 2011. Included in these sales are all properties in our industrial segment, as well as two office properties, Albemarle Point and the Crescent