Ramco-Gershenson extends revolver, increases it to $350 million

By Angela McDaniels

Tacoma, Wash., Oct. 17 – Ramco-Gershenson Properties Trust’s majority-owned operating partnership subsidiary, Ramco-Gershenson Properties, LP, increased its revolving credit facility to $350 million and extended the maturity date to October 2018, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date may be further extended to October 2019.

The amendment was made Oct. 10 and also incorporates some changes to covenants. Ramco-Gershenson does not expect the covenant changes to have a material impact on the operating partnership’s operations.

KeyBank NA is the agent.

Ramco-Gershenson is a real estate investment trust based in Farmington Hills, Mich. Its primary business is the ownership and management of shopping centers.

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