Simon Property Group Inc. SPG, the Indianapolis, IN-based retail real estate investment trust (“REIT”) made the announcement of exercising accordion feature on its $2.75 billion unsecured revolving credit facility. Through this, the company has raised the borrowing capacity under the multi-currency supplemental facility by $750 million to $3.5 billion. This is likely to lend more financial flexibility and improve the liquidity position of the company.Notably, the terms and conditions associated with this credit facility have also been revised. Per the new terms, Simon Property can further expand the facility to $4.25 billion during its term. The credit facility is slated to mature on Jun 30, 2019, but can be extended by a year, at the discretion of the company. The rate of interest on this credit facility has been decided at London interbank offered rate (“LIBOR”) plus 80 basis points.Simon Property is engaged in acquiring, owning and leasing a diverse portfolio of shopping malls. The company already boasts a strong and improving balance sheet. The new facility, along with the existing one of $4 billion, adds up to total revolving credit capacity of $7.5 billion. Currently, Simon Property carries a Zacks Rank #3 (Hold). Investors interested in the retail REIT industry may consider stocks like Realty Income Corporation O, Regency Centers Corporation REG and Retail Opportunity Investments Corp. ROIC. Each of these stocks holds a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SIMON PROPERTY (SPG): Free Stock Analysis Report REGENCY CTRS CP (REG): Free Stock Analysis Report REALTY INCOME (O): Free Stock Analysis Report RETAIL OPPURTUN (ROIC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research