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Columbus Realty Trust announced credit facility modification.

DALLAS--(BUSINESS WIRE)--Feb. 9, 1995--Columbus Realty Trust (New York Stock Exchange Symbol: CLB) (the "Company") announced Thursday that it has completed the modification of its existing Credit Facility to increase the amount from $80 million to $170 million, such increase to be used for acquiring, developing, and constructing additional properties and for working capital purposes.

Bank One, Texas, N.A. acted as agent for this facility on behalf of the lending group consisting of Bank One, Texas, N.A.; Bank United of Texas; Wells Fargo Realty Advisors Funding, Inc; Texas Commerce Bank, N.A.; and Comerica Bank-Texas.

The modified Credit Facility requires the payment of interest only to an extended maturity date of Dec. 31, 1997 at the Base Rate or at a floating rate equal to a spread of 175 Basis points over LIBOR for completed and operating properties and 225 Basis points over LIBOR for properties under construction.

Columbus Realty Trust, headquartered in Dallas, Texas, is self-administered and self-managed real estate investment trust engaged in the business of multifamily residential property development, acquisition, ownership and management.

CONTACT: Columbus Realty Trust, Dallas

J. Michael Lewis, 214/770-5182, fax 214/770-5109
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Publication:Business Wire
Date:Feb 9, 1995
Words:192
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