GEO Property Group has secured a new facility totalling $120 million, including working capital.
Managing director and CEO Guy Farrands also said GEO’s lenders have extended the milestone date to receive credit approval to 22 October 2010.
As at 30 September 2010, GEO’s Multi-Option Facility balance was $83.0 million with cash on hand of $32.4 million; this does not include the proceeds of the sale of Bankstown Business Park of $22.5 million due on 31 October 2010.
Australian Property Journal
