AmREIT, Inc. (NYSE: AMRE), a Houston based real estate company that has
elected to be taxed as a real estate investment trust, announced today
the successful refinancing of the mortgage loan on its Uptown PlazaDallas property through one of its wholly-owned subsidiaries.
The existing $10.4 million loan was refinanced with a $14 million,
10-year term loan at a fixed interest rate of 4.25% 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," commented Chad C. Braun, Chief Operating
Officer and Chief Financial Officer of AmREIT.
About AmREIT, Inc.
AmREIT, Inc., headquartered in Houston, is a full service, vertically
integrated and self-administered real estate investment trust that owns,
operates, acquires and selectively develops and redevelops primarily
neighborhood and community shopping centers located in high-traffic,
densely populated, affluent areas with significant barriers to entry. As
of June 30, 2012, AmREIT's portfolio consisted of 29 retail properties
that were 95.8% leased and are typically anchored by strong national and
local retailers including supermarket chains, drug stores and other
necessity-based retailers with the remaining tenant base comprised
predominantly of specialty retailers and national and local restaurants.
AmREIT’s core markets include affluent, high-growth submarkets in the
top-growth cities of Houston, Dallas, San Antonio, Austin, and Atlanta.
In addition, AmREIT manages and has varying minority ownership interests
in eight advised funds, which owned, as of June 30, 2012, 18 properties.
This press release contains forward-looking statements within the
meaning of the federal securities laws, including statements related to
the offering and the expected use of the net proceeds therefrom, which
are based on current expectations, forecasts and assumptions that
involve risks and uncertainties that could cause actual outcomes and
results to differ materially. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning matters
that are not historical facts. In some cases, you can identify
forward-looking statements by the use of forward-looking terminology
such as "may," "will," "should," "expects," "intends," "plans,"
"anticipates," "believes," "estimates," "predicts," or "potential" or
the negative of these words and phrases or similar words or phrases,
which are predictions of or indicate future events or trends and which
do not relate solely to historical matters. While forward-looking
statements reflect AmREIT’s good faith beliefs, assumptions and
expectations, they are not guarantees of future performance.
Furthermore, AmREIT disclaims any obligation to publicly update or
revise any forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes. For a further discussion of these and other
factors that could impact AmREIT’s future results, performance or
transactions, see the section entitled "Risk Factors" in AmREIT’s final
prospectus dated July 26, 2012, ,filed with the Securities and Exchange
Commission on July 27, 2012 and other risks described in documents
subsequently filed by AmREIT from time to time with the Securities and
AmREIT, Inc.Chad C. Braun, (713) email@example.com
Source: AmREIT, Inc.