ORLANDO, Fla. — CNL Healthcare Properties, a real estate investment trust (REIT) focused on senior housing and healthcare properties, has entered into a $405 million unsecured credit facility and term loan, which can be expanded to $700 million.
The new credit facility, led by KeyBank National Association, has nine other participating lenders, including JPMorgan Chase Bank, SunTrust Bank, Bank of America, Compass Bank, Fifth Third Bank, Cadence Bank, Comerica Bank, The Huntington National Bank, and Seaside National Bank & Trust.
“These new credit facilities represent a significant milestone in the growth and maturation of CNL Healthcare Properties’ business and signifies a great level of confidence in our company and strategy,” says Stephen H. Mauldin, president and CEO of CNL Healthcare Properties. “Our previous secured corporate line of credit helped us substantially and rapidly grow our senior housing and healthcare holdings and these new facilities will further assist us in taking advantage of investment opportunities as we continue to build and diversify the REIT.”
CNL Healthcare Properties owns 55 senior housing communities and 45 healthcare properties.