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Subsequent Events
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6 Months Ended |
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Jun. 30, 2011
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| 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 |
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- Definition
Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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