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| STAG > SEC Filings for STAG > Form 8-K on 13-Nov-2012 | All Recent SEC Filings |
13-Nov-2012
Entry into a Material Definitive Agreement, Creation of a Direct Financial
On November 8, 2012, STAG Industrial, Inc., a Maryland corporation (the "Company"), through certain of its subsidiaries, entered into a loan agreement with Wells Fargo Bank, National Association (the "Loan Agreement"). The Loan Agreement provides for a secured loan in the original principal amount of approximately $68.8 million (the "Loan"). Unless otherwise terminated pursuant to the terms of the Loan Agreement, the Loan will mature on December 1, 2022. Borrowings under the Loan will bear interest at a fixed rate of 4.31%. The Loan is secured by first mortgages on 28 properties located in eight states and has a loan-to-cost ratio of 60.0%. The Company's operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership, guarantees certain limited obligations under the Loan. Wells Fargo Bank, National Association has the right to securitize any portion or all of the Loan in a single asset securitization or a pooled loan securitization.
The foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the Loan Agreement, a copy of which has been filed as Exhibit 10.1 to this report and is incorporated in this Item 1.01 by reference.
The information set forth under Item 1.01 of this report is incorporated herein by reference.
(d) Exhibits.
Exhibit
Number Description
10.1 Loan Agreement, dated as of November 8, 2012, by and among Borrowers (as
defined therein) and Wells Fargo Bank, National Association, as Lender.
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