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Both loans should close withijn60 days. Highwoods (NYSE: HIW) says it will use the moneg to repay debt and for generalcorporate purposes. “We are very pleased with theseloan commitments, whicjh will further fortify our already healthy balance sheet, enhance our liquidityy and position Highwoods to take advantags of future growth opportunities,” Ed Fritsch, presidenyt and chief executive officer, said in a written According to Highwoods, the two loansa are: * A $115.0 6.5-year secured loan provided by at a fixed rate of 6.875 It is secured by a pool of 10 assets in Nashville, Raleighj and Tampa. * A $47.3 7-year secured loan arranged by at a fixedd rateof 7.
5 It is secured by the office portiom of RBC Plaza in Raleigh. Highwoodd also announced that it has paid off a secured loanof $107 which carried a rate of 7.8 percen and was originally scheduled to mature in Novemberd 2009. There were no prepayment penalties.
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