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