ORLANDO—CNL Healthcare Properties, an investment firm that focused on senior
housing and healthcare real estate, has secured a corporate line of credit in the initial amount of $120 million. KeyBank is serving as the lead arranger and syndication agent with Bank of America, Fifth Third Bank, PNC Bank, and Cadence Bank also participating in the deal.
CNL expects to use the financing to support the growth of its portfolio of senior housing, medical office and other healthcare real estate. Under the terms of the credit agreement, CNL Healthcare Properties has the option to expand the line of credit to up to $325 million through an accordion feature.
“The new credit facility provided by this outstanding group of lenders demonstrates the confidence in this fund and our investment thesis,” says Stephen H. Mauldin, president and CEO of CNL. “We are in a dynamic environment and continue to see terrific investment opportunities in the senior housing and healthcare real estate sectors. This corporate-level financing will help us expand our portfolio and efficiently take advantage of investment opportunities.”
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