APhA obtains loan to upgrade its office

March 5, 2007

APhA has obtained a loan to fund the renovation of its existing building and construction of a new adjacent headquarters. The $112 million deal involves a three-year construction and 10-year permanent loan with Hypo Real Estate Capital Corp. The rate is 125 basis points over LIBOR for half of the construction loan and the other half is a fixed rate of 6.16%. The loan then converts to a permanent one with a rate of 6.23%. The association expects the makeover to be completed by 2009.

To see more Hot off the Press news articles, click here.

To go to the Drug Topics homepage, click here.

Related Content:

News