BETHESDA, MD— LaSalle Hotel Properties has successfully amended its $300-million senior unsecured bank facility. The terms of the amended facility are substantially the same as the prior credit facility except for the pricing reduction and the facility now matures April 13, 2011 with an option to extend to April 13, 2012. The interest rate for the new unsecured facility is based on a pricing grid with a range of 70 to 150 basis points over LIBOR and a flat unused fee of 12.5 basis points. Additionally, LaSalle Hotel Lessee (LHL), the company’s taxable REIT subsidiary, also amended its $25-million revolver on similar terms as the amended senior unsecured credit facility. The company’s senior unsecured facility is co-led by Bank of Montreal and Bank of America. LaSalle Bank and Royal Bank of Scotland are co-documentation agents. The following banks participate in the senior unsecured credit facility: National City Bank, Raymond James, U.S. Bank, Wachovia and Wells Fargo. LHL’s revolving credit facility is with U.S. Bank.
