AmREIT, Inc., a real estate company that has elected to be taxed as a real estate investment trust, announced the successful refinancing of the mortgage loan on its Uptown Plaza Dallas property through one of its subsidiaries.
According to a release, the existing $10.4 million loan was refinanced with a $14 million, 10-year term loan at a fixed interest rate of 4.25 percent with a 30-year amortization. The loan was sourced by Holiday Fenoglio Fowler, L.P. and the lender is the Life Insurance Company of the Southwest, an affiliate of Sentinel Investments.
"Our philosophy is to match our long term assets with long term debt with fixed interest rates. We do not have any additional debt maturing between now and 2015, and we believe we are well positioned to execute upon our growth strategy," noted Chad C. Braun, Chief Operating Officer and Chief Financial Officer of AmREIT.
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