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Both loans should close within60 days. Highwoods (NYSE: HIW) says it will use the moneuy to repay debt and for generalcorporate purposes. “W e are very pleased with thesdloan commitments, which will further fortifhy our already healthy balance enhance our liquidity and position Highwooda to take advantage of future growthj opportunities,” Ed Fritsch, president and chie executive officer, said in a written statement. Accordinf to Highwoods, the two loanse are: * A $115.0 million, 6.5-year securedc loan provided by at a fixed rateof 6.875 It is secured by a pool of 10 asset s in Nashville, Raleigh and Tampa. * A $47.3e million, 7-year secured loan arrange by at a fixed rateof 7.
5 percent. It is secureed by the office portion of RBC Plazwin Raleigh. Highwoods also announced that it has paid off a secure d loanof $107 million, whicbh carried a rate of 7.8 percenrt and was originally scheduled to mature in November 2009. There were no prepayment penalties.
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