CV Reit, Inc. Closes On $100 Million Credit Facility for Shopping Center Acquisitions.WEST PALM BEACH, Fla.--(BUSINESS WIRE)--April 6, 1998--CV Reit, Inc. (NYSE NYSE See: New York Stock Exchange : CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute ), a real estate investment trust specializing in acquiring and owning neighborhood shopping centers, reported today the successful closing of a $100 million credit facility with GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage Corporation. The funds will be used to increase the company's shopping center portfolio. "This line of credit will allow us to aggressively build our portfolio and increase our asset base," Louis P. Meshon Sr., CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of CV Reit, Inc., explains. "With the availability of a $100 million line of credit, we anticipate being able to close on a number of identified acquisitions that are expected to positively impact our funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. ." CV Reit, Inc. (NYSE: CVI) is a self-administered, self-managed Real Estate Investment Trust. Through its affiliate, Montgomery CV Realty Group, a company with more than 25 years of excellence in shopping center acquisition, leasing, development and management, the company plans to aggressively acquire additional retail properties. CONTACT: L. B. Stauffer, SVP John Chuhran, Media Consultant Porter, LeVay & Rose, Inc. (212) 564-4700 |
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