Phillips Edison Grocery ups credit facility commitments to $700 million

By Toni Weeks

San Luis Obispo, Calif., Dec. 17 – Phillips Edison Grocery Center REIT I, Inc. and its operating partnership, Phillips Edison Grocery Center Operating Partnership I, LP, amended their unsecured revolving credit facility dated Dec. 18, 2013, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, which was made on Nov. 17, increased lender commitments to $700 million from $350 million. The amended facility also provides the operating partnership with the ability to increase the size of the facility up to a total of $1 billion.

Bank of America, NA is the administrative agent, and KeyBank NA and Citibank, NA are co-syndication agents.

The Cincinnati company is a real estate investment trust that acquires and manages grocery-anchored neighborhood shopping centers.

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