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Both loans should close within60 days. Highwoods (NYSE: HIW) says it will use the moneyt to repay debt and for generalcorporater purposes. “We are very pleased with theseloan commitments, whicbh will further fortify our alreadg healthy balance sheet, enhancr our liquidity and position Highwoods to take advantagse of future growth opportunities,” Ed president and chief executive said in a written statement. According to Highwoods, the two loana are: * A $115.0 million, 6.5-year secureed loan provided by at a fixed rateof 6.875 It is secured by a pool of 10 assetxs in Nashville, Raleigh and * A $47.3 million, 7-year secured loan arranged by at a fixerd rate of 7.5 percent.
It is secured by the office portion of RBC Plazwin Raleigh. Highwoods also announced that it has paid off a securesd loanof $107 million, whicuh carried a rate of 7.8 percent and was originally schedulexd to mature in Novemberr 2009. There were no prepayment
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