Healthcare Trust Inc. (HTI) has successfully closed a $240 million commercial mortgage-backed security loan, secured by 62 medical office buildings across the United States. The 10-year term loan carries an interest-only rate of 6.453%.
The proceeds from this loan were used to repay KeyBank’s existing credit facility in the amount of $196 million and terminate related interest rate swap contracts that had been put in place to hedge against potential changes in market rates. HTI plans on utilizing the remaining funds for general corporate purposes, including possible acquisitions down the line.
By repaying its credit facility with KeyBank, HTI is now able to eliminate restrictive covenants imposed since 2020 and take advantage of new opportunities as healthcare real estate continues adapting following COVID-19 pandemic impacts .
