{"id":1004131311,"date":"2015-11-11T07:55:24","date_gmt":"2015-11-11T15:55:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004131311"},"modified":"2020-04-22T23:51:44","modified_gmt":"2020-04-23T07:51:44","slug":"lasalle-hotel-properties-closes-sizeable-unsecured-term-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-hotel-properties-closes-sizeable-unsecured-term-loan\/","title":{"rendered":"LaSalle Hotel Properties Closes Sizeable Unsecured Term Loan"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004131314\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lasalle-hotel-properties-closes-sizeable-unsecured-term-loan\/michaelb\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg\" data-orig-size=\"500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"michaelb\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg?w=500\" class=\"alignright size-medium wp-image-1004131314\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg\" alt=\"michaelb\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg?resize=150,150 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/michaelb.jpg?resize=300,300 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/www.lasallehotels.com\/\" target=\"_blank\" rel=\"nofollow\">LaSalle Hotel Properties<\/a> has completed a financing transaction and it\u2019s a big one. The multi-operator hotel REIT just closed on a senior unsecured term loan in the amount of $555 million.<\/p>\n<p>Citigroup Global Markets Inc., BMO Capital Markets and U.S. Bank National Association, serving as joint lead arrangers and joint book running managers, arranged the new term loan, which is scheduled to mature in January 2021.<\/p>\n<p>\u201cThe debt market remains healthy, especially for lower-risk borrowers like LaSalle, and proceeds from the new term loan essentially pay off the balance of the company\u2019s credit facility and provide increased flexibility to potentially be a more aggressive repurchaser of shares,\u201d Michael Bellisario, research analyst with financial services firm R.W. Baird &amp; Co., told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Upon closing, LaSalle used a portion of the proceeds to pay off its $177.5 million senior unsecured term loan, and with the remaining funds, paid off the bulk of the balance on its $750 million senior unsecured credit facility.<\/p>\n<p>The right move at the right time. \u201cLaSalle\u2019s balance sheet remains one of the best in the sector with leverage at 3.5x, and the refinancing is well timed ahead of a potential interest rate increase by the Fed,\u201d Bellisario said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LaSalle Hotel Properties has closed on a senior unsecured term loan in the amount of $555 million.<\/p>\n","protected":false},"author":969,"featured_media":1004131314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,21825,37775,21751,23891,21742,37776,37777,37778],"tags":[],"class_list":["post-1004131311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-dividend-yield","category-finance","category-rc-forward-affo-payout-ratios","category-hotel","category-national","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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