Cole Operating increases revolving bridge facility to $150 million

By Jennifer Chiou

New York, March 14 - Cole Operating Partnership IV, LP entered into an amendment to its credit agreement on March 8 with JPMorgan Chase Bank, NA as administrative agent and syndication agent, according to an 8-K filing with the Securities and Exchange Commission.

The operating partnership increased the size of its unsecured revolving bridge facility to $150 million from $75 million.

As of March 8, the company had about $37 million outstanding under the bridge facility and, based on the underlying collateral pool for qualified unencumbered properties, $27.1 million available for borrowing.

The operating partnership of Cole Credit Property Trust IV, Inc. is based in Phoenix.

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