Welsh Property Trust Inc. has obtained $200 million from an investment fund managed by Rothschild Realty Managers in New York.
Welsh gets $200 million in credit
December 4, 2010 at 2:39AM
Welsh Property Trust, a real estate investment trust formed by Welsh Cos. in Minnetonka, had been looking to raise $345 million when it ditched an initial public offering last July after market conditions turned bad.
The new credit facility is with Five Arrows Realty Securities V LP, an investment fund managed by Rothschild Realty Managers, which finances real estate companies, according to Welsh.
Welsh said it's launching an aggressive growth plan. As part of the deal, two Rothschild representatives have joined Welsh's board of managers.
JENNIFER BJORHUS
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