CHICAGO--(BUSINESS WIRE)--
Equity Commonwealth (NYSE:EQC) announced it repaid $100 million on its
unsecured term loan. The remaining $400 million outstanding under the
term loan matures December 15, 2016. Funding for the repayment came from
cash on hand.
EQC has repaid $233 million of debt in the fourth quarter of 2014, and
$766 million of debt since June 30, 2014, excluding principal
amortization. These debt repayments are consistent with EQC’s strategy
to de-lever the balance sheet as it repositions its portfolio.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is an internally managed and
self-advised real estate investment trust (REIT). EQC is one of the
largest commercial office REITs in the United States, with a portfolio
of over 40 million square feet located in 30 states, DC and Australia.
Forward-Looking Statements
This press release may contain forward-looking statements and
information within the meaning of the federal securities laws, including
statements regarding our strategy with respect to our portfolio. These
statements are based on current expectations, estimates, projections and
assumptions made by management. While Equity Commonwealth management
believes the assumptions underlying its forward-looking statements are
reasonable, such information is inherently subject to uncertainties and
may involve certain risks. Other risks and uncertainties are described
under the heading “Risk Factors” in our Annual Report on Form 10-K and
subsequent periodic reports filed with the Securities and Exchange
Commission (SEC) and available on our website, www.eqcre.com.
Many of these uncertainties and risks are difficult to predict and
beyond management’s control. Forward-looking statements are not
guarantees of future performance, results or events. Equity Commonwealth
assume no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events.
Equity Commonwealth
Sarah Byrnes, 312-646-2801
Investor
Relations
[email protected]
www.eqcre.com
Source: Equity Commonwealth