ORLANDO, FL—CNL Healthcare Properties reportsit has raised its revolving line of credit by $155 million to $275million, which will allow the REIT to take advantage of what itterms are “compelling investment opportunities.”

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The $155-million increase includes the addition of five newlenders. The Orlando-based company closed its inaugural$120-million line of credit in August 2013.

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The line of credit now includes 10 participating lenders, withnew commitments from JPMorgan Chase Bank,SunTrust Bank, RBS Citizens,Comerica Bank and Seaside National Bank& Trust. They join an initial group of lenders thatconsisted of KeyBank, as the lead arranger andadministrative agent, Bank of America,Fifth Third Bank, PNC Bank andCadence Bank as participating institutions.

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Company officials say the firm has the option to expand the lineof credit up to $325 million through additional capacity via anaccordion feature.

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“The expanded credit facility provided by this high-qualitygroup of lenders demonstrates their confidence in CNL HealthcareProperties,” says Stephen H. Mauldin, presidentand CEO of CNL Healthcare Properties. “The initial line of credithas helped us substantially grow our senior living and healthcareportfolio over the last several months. The expanded facility willfurther assist us in taking advantage of compelling investmentopportunities as we continue to broaden and diversify ourportfolio.”

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In late January, CNL Healthcare reported it had purchased twomedical office buildings in Coral Springs, FL and two medicaloffice buildings in Chula Vista, CA for a combined $60 million.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.