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Sign in Sign up for a FREE subscriptionPrime US REIT, KBS complete $550m refinancing facility
Prime US REIT, a Singapore REIT with the principal investment strategy of investing, directly or indirectly, in stabilized income-producing office assets in the United States, and KBS announced the completion of a major refinancing for the Prime US REIT portfolio. The new agreement has an aggregate principal amount of $550 million, comprising a $400 million term loan facility and a $150 million committed revolving credit facility. Prime US REIT trades on the Singapore Exchange Securities Trading Limited ticker as: OXMU. KBS serves as the U.S.-based asset manager for the portfolio, which includes helping to negotiate the credit facility. Prime US REIT’s portfolio consists of well-located class A assets with highly desirable amenities.
“The completion of this refinancing further strengthens our capital position, allowing us to make significant capital improvements across our portfolio, ensuring our buildings meet the highest standards of quality, sustainability, and tenant