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AGREE REALTY SECURES $24.8 MILLION LOAN FOR SEVEN RETAIL PROPERTIES

Posted on by in Midwest, Retail

FARMINGTON HILLS, MICH. — Farmington Hills-based Agree Realty Corp. has secured a $24.8 million loan, providing capital for future projects. The loan is secured by seven of the company’s existing retail properties. Financing is based on an original term of 5 years, with interest at 150 basis points over LIBOR. The loan can be extended for an additional 2-year period. LaSalle Bank Midwest National Association and Raymond James Bank arranged the financing.

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