Major Connecticut landlord Griffin Land & Nurseries Inc. signed an expanded $12.5 million revolving credit line.
New York based Griffin, with nursery operations in Granby and commercial property holdings in central Connecticut, said the new two-year line with Doral Bank replaces a $10 million credit line.
It said it intends the new line of credit – secured by several of its buildings in Griffin Center and Griffin Center South in Windsor — to fund general corporate activities.
The financing carries an interest rate of the greater of prime plus 1.5 percent, or 5.875 percent.
