TORONTO, March 11, 2013 /CNW/ - KEYreit (TSX: KRE.UN) ("KEYreit" or the
"REIT") announced today that it has entered into a commitment letter
for a $15,000,000 revolving credit facility (the "Facility") with a
Canadian Chartered Bank. The Facility will be secured by 23 of the
REIT's properties and is renewable annually at the lender's discretion.
The Facility is expected to close early in the second quarter of 2013
and is subject to customary closing conditions and documentation
requirements for facilities of this type. The Facility will provide the
REIT with attractive financing and greater financial flexibility to
execute on its business plan and growth strategy going forward.
"Securing the operating line was a significant objective for KEYreit to
execute its planned aggressive growth in 2013 and into the future,"
said Teresa Neto, Chief Financial Officer of KEYreit. "The recent
de-levering of our balance sheet has allowed the REIT to secure such
cost effective and flexible financing."
KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property
owner with 226 properties in nine provinces across Canada. KEYreit's
properties are well located and geographically diverse across Canada
with the majority of all properties containing long-term quadruple net
To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com.
For further information:
For investor information, please contact:
Chief Financial Officer
KEYreit unitholders, please contact:
Kingsdale Shareholder Services Inc.
1-888-518-1562 toll-free in North America
1-416-867-2272 outside of North America (collect calls accepted)
Media, please contact:
Longview Communications Inc.
Alan Bayless 604-694-6035, firstname.lastname@example.org
Olena Lobach 416-649-8009, email@example.com