Orlando, Fla., Feb. 9, 2015 (GLOBE NEWSWIRE) -- 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," said 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."
As of Dec. 31, 2014, CNL Healthcare Properties owned 55 senior housing communities and 45 healthcare properties.
About CNL Healthcare Properties
CNL Healthcare Properties, Inc., is a real estate investment trust (REIT) that focuses on acquiring properties in the senior housing and healthcare sectors, both stabilized and development, as well as other income-producing properties, real-estate related securities and loans. CNL Financial Group, LLC is the sponsor of CNL Healthcare Properties. For more information, visit CNLHealthcareProperties.com.
About CNL Financial Group
CNL Financial Group (CNL) is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $29 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit CNL.com.
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For further information regarding risks and uncertainties associated with the Company's business, and important factors that could cause the Company's actual results to vary materially from those expressed or implied in its forward-looking statements, please refer to the factors listed and described under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the "Risk Factors" sections of the Company's documents filed from time to time with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's quarterly reports on Form 10-Q, and the Company's annual report on Form 10-K, copies of which may be obtained from the Company's website at CNLHealthcareProperties.com.
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CONTACT: Sherry Magee Senior Vice President Communications CNL Financial Group 407-650-1223
Source:CNL Healthcare Properties