Quarterly report pursuant to Section 13 or 15(d)

Unsecured Lines Of Credit Payable

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Unsecured Lines Of Credit Payable
9 Months Ended
Sep. 30, 2011
Unsecured Lines Of Credit Payable [Abstract]  
Unsecured Lines Of Credit Payable

NOTE 5: UNSECURED LINES OF CREDIT PAYABLE

As of September 30, 2011, we maintained a $75.0 million unsecured line of credit ("Credit Facility No. 1") maturing in June 2012 and a $400.0 million unsecured line of credit ("Credit Facility No. 2") maturing in July 2014.

The amounts of these lines of credit unused and available at September 30, 2011 are as follows (in millions):

 

     Credit Facility
No. 1
    Credit Facility
No. 2
 

Committed capacity

   $ 75.0      $ 400.0   

Borrowings outstanding

     (74.0     (119.0

Letters of credit issued

     (0.8     (0.9
  

 

 

   

 

 

 

Unused and available

   $ 0.2      $ 280.1   
  

 

 

   

 

 

 

We executed borrowings and repayments on the unsecured lines of credit during the 2011 Quarter as follows (in millions):

 

     Credit Facility
No. 1
     Credit Facility
No. 2
 

Balance at June 30, 2011

   $ 74.0       $ 171.0   

Borrowings

     —           58.0   

Repayments

     —           (110.0
  

 

 

    

 

 

 

Balance at September 30, 2011

   $ 74.0       $ 119.0   
  

 

 

    

 

 

 

We made borrowings during the 2011 Quarter to partially fund the acquisitions of Olney Village Center and John Marshall II, to pay off the Shady Grove Medical Center mortgage note and for general corporate purposes. We made a repayment during the 2011 Quarter using proceeds from the first phase of the sale of the Industrial Portfolio.