Inland Western Obtains $300M Commitment From JPMorgan Chase

Inland Western Retail Real Estate Trust Inc., a self-managed trust active in multi-tenant shopping centers, has obtained a commitment for new secured loans from JPMorgan Chase Bank NA.

JPMorgan provided the $300 million nonrecourse forward commitment that Inland Western will use to refinance 2010 debt maturities.

‘This $300 million commitment, coupled with the $625 million loan we closed in December, demonstrates solid revitalization signs in the [commercial mortgage-backed securities] markets, as well as the existence of attractive credit in the marketplace for quality assets," says Steven Grimes, Inland Western's CEO.

Inland Western says that, in the last year, it has refinanced (including commitments), paid down and extinguished debt totaling $1.8 billion and has reached agreements or is in negotiations to extend another $396 million.

SOURCE: Inland Western Retail Real Estate Trust


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