UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: September 14, 2005
(Date of Earliest Event Reported): September 9, 2005
RAMCO-GERSHENSON PROPERTIES TRUST
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(Exact name of registrant as specified in its charter)
Maryland 1-10093 13-6908486
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
31500 Northwestern Highway, Suite 300, Farmington Hills, Michigan 48334
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 248-350-9900
Not Applicable
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Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
On September 9, 2005, Ramco-Gershenson Properties, L.P.("the "Company"), an
affiliate of Ramco-Gershenson Properties Trust (the "Registrant"), entered into
a secured loan agreement (the "Agreement") with KeyBank National Association
("KeyBank") in the amount of $99,317,000. The proceeds of this bridge loan were
used to repay various mortgage loans on ten of the Company's assets with Lincoln
National Life Insurance Company ("Lincoln") that were due to mature on January
10, 2006.
The new loan has a variable interest rate equal to 140 basis points over LIBOR
and matures on December 29, 2005 and KeyBank took an assignment of the existing
mortgages on the same ten shopping centers previous encumbered by the Lincoln
loans. The Agreement requires the Company to make interest only periodic
payments with all outstanding principal due and payable at the maturity date.
The Company and the Registrant have guaranteed repayment of the loan. The
Agreement contains customary provisions for debt agreements of this nature with
respect to events of default.
KeyBank is a lender under the Company's secured and unsecured credit facilities
and one mortgage loan, and affiliates of KeyBank have provided investment
banking and advisory services to the Registrant from time to time.
Item 2.03
As discussed in Item 1.01 above, the Company, an affiliate of the Registrant,
entered into a secured loan agreement with KeyBank.
Item 9.01 Exhibits
(c) Exhibits
99.1 Press Release, dated September 14, 2005, issued by Ramco-Gershenson
Properties Trust
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RAMCO-GERSHENSON PROPERTIES TRUST
September 14, 2005 By: Richard J. Smith
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Name: Richard J. Smith
Title: Chief Financial Officer
Exhibit Index
Exhibit No. Description
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99.1 Press release dated September 14, 2005.