Pacific Office Properties Trust Inc. said it has closed on a $40 million revolving credit facility with KeyBank National Association that will be used acquire West Coast office properties in partnership with institutional investors.

“Securing this revolving facility in such a challenging credit market is a testament to the underlying strength of our portfolio, the attractive returns generated by our business model, and the quality of our management team,” said Dallas Lucas, chief executive of the Los Angeles REIT.

Pacific Office’s portfolio consists of 23 properties totaling 4.3 million leasable square feet in Los Angeles, Orange County, San Diego, Honolulu and Phoenix. The REIT has $417 million in consolidated debt and approximately $335 million in equity.

Pacific Office Properties shares were up less than 1 cent to $6.49 in morning trading on the Amex.