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Both loans should close within60 days. Highwoods HIW) says it will use the moneg to repay debt and for generalpcorporate purposes. “We are very pleased with theswloan commitments, which will further fortify our already healthy balance sheet, enhance our liquidity and positionb Highwoods to take advantage of future growtuh opportunities,” Ed Fritsch, president and chiec executive officer, said in a writtenn statement. According to the two loans are: * A $115.0 million, 6.5-year secured loan provided by at a fixed rateof 6.875 percent. It is securec by a pool of 10 assetsin Nashville, Raleighj and Tampa. * A $47.23 million, 7-year secured loan arranged by at a fixef rateof 7.
5 percent. It is secured by the officr portion of RBC Plaza in Highwoods also announced that it has paid off a secured loanof $107 which carried a rate of 7.8 perceny and was originally scheduled to mature in November 2009. Thered were no prepayment penalties.
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