CoreSite Realty Corp. announced that its operating partnership, CoreSite, L.P., has amended and restated its revolving credit facility, which was scheduled to mature on December 15, 2014. The amendment was completed with its existing lender group and new bank relationships.

The new credit facility is unsecured, compared to the prior facility, which was secured by five assets, and availability has been increased from $225m to $355m. The facility has a five-year term through January 2018, including a one-year extension option, and the interest rate spread was reduced by 25 basis points.

CoreSite intends to use the facility primarily to fund expansion and development projects.

Jeff Finnin, CoreSite’s CFO, commented, “We are pleased with the enhanced financial flexibility and cost savings that the amended facility provides CoreSite, as we continue to pursue our growth objectives. The move to unsecured debt, as well as the size and term of the facility, signals our lending group’s confidence in our operating model and we appreciate their ongoing support.”