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JBG Smith recasts, extends $1B credit facility
JBG Smith recasts, extends $1B credit facility
Listen to this articleA Bethesda real estate developer has amended and extended the maturity date of its revolving credit facility.
JBG Smith‘s recast $1 billion revolving credit facility extends the maturity date by five years to Jan. 7, 2025 and lowers the interest rate to Libor plus 1.05%, a decrease of .05% from the previous credit facility.
The maturity dates and amounts of two unsecured term loans for $200 million each, due January 2023 and July 2024, won’t change as a part of the deal.
Additionally, JBG Smith said in a news release it chose Hana, a subsidiary of CBRE Group, to be flexible office space provider for roughly 39,000 square feet of space at National Landing, an area in Northern Virginia where Amazon plans to locate its HQ2 headquarters project. The location at 2451 Crystal Drive will be Hana’s first on the East Coast.
