Excel Trust Closes $125M Unsecured Credit Facility
July 13, 2010 04:43 PM Eastern Daylight Time
SAN DIEGO--(EON: Enhanced Online News)--Excel Trust, Inc. (NYSE: EXL), a retail focused real estate
investment trust (REIT), has closed an unsecured revolving credit facility of up to $125 million arranged by Wells
Fargo Securities, LLC and KeyBanc Capital Markets.
“We appreciate the confidence our lenders have placed in us recognizing that it is difficult to obtain an unsecured
credit facility in this market,” said Mr. Gary Sabin, Chief Executive Officer of Excel Trust.
Excel Trust has the option of increasing the credit facility to $400 million, subject to lender commitments and other
conditions. The term of the facility is three years and can be extended for one year at Excel’s option.
"This unsecured credit facility provides great flexibility and, along with the remaining proceeds from the IPO, will
enable our company to capitalize on opportunities to acquire attractive properties in an efficient manner,” said Mr.
Jim Nakagawa, Chief Financial Officer.
Participants in the credit facility include Wells Fargo Bank, National Association, KeyBank National Association,
PNC Bank, National Association, U.S. Bank National Association, Morgan Stanley Senior Funding, Inc., Barclays
Bank PLC, UBS Loan Finance, LLC, and Raymond James Bank, FSB.
About Excel Trust, Inc.
Excel Trust, Inc. is a retail focused REIT that targets community and power centers, grocery anchored neighborhood
centers and freestanding retail properties. The Company intends to elect to be treated as a REIT, for U.S. federal
income tax purposes, commencing with the taxable year ending December 31, 2010. Excel Trust trades publicly on
the NYSE under the symbol "EXL" (NYSE: EXL). For more information on Excel Trust, Inc., please visit
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities
Litigation Reform Ac