Chambers Street Properties secures $700 million credit facility

Chambers Street Properties (formerly CB Richard Ellis Realty Trust) has secured a new revolving credit facility through a group of lenders led by Wells Fargo Securities, LLC and RBC Capital Markets. The new facility provides a line of credit up to $700 million over the next four years with the option to extend for an additional one year. The company also has the option to request an increase in the facility of up to $700 million for an aggregate amount of $1.4 billion. "This new line of credit reinforces the strength of our investment strategy and provides us with an expanded capital platform to build upon our existing portfolio and support the next phase of the company's growth as an investor in high-quality, net leased commercial real estate," said Jack Cuneo, president and CEO, Chambers Street. Chambers Street has assembled a geographically diverse portfolio across three continents in more than 40 markets: 124 properties located in the U.S. and internationally (112 properties in the U.S., seven properties in the United Kingdom and five properties in Germany) as well as an investment with institutional partners in Asia that includes interests in eight properties located in China and Japan. Last month, the company revealed the purchase of a fully occupied 1.1 million s/f warehouse/distribution center in Kansas City, Ks., as well as the purchase of a 1 million s/f logistics facility near Koblenz, Germany.