First Industrial Realty Trust gets $110 million term loan

By Sara Rosenberg

New York, Dec. 18 - First Industrial Realty Trust Inc. closed on a new $110 million three-year term loan for its joint ventures with the California State Teachers' Retirement System, according to a news release.

WestLB, PNC Bank and Regions Bank acted as the lead banks on the deal, with WestLB the administrative agent.

The term loan is priced at Libor plus 275 basis points.

There is a $165 million accordion feature under the term loan, plus the company can add a $175 million revolving credit facility to its capital structure.

First Industrial Realty Trust is a Chicago-based provider of industrial real estate supply chain services.

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