
American Healthcare Investors Negotiates $650M Credit Facility
American Healthcare Investors, LLC and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., entered into a new credit facility totaling $400 million that could be bumped up to $650 million. The agreement on behalf of the REIT and certain of its subsidiaries is with Merrill Lynch, Pierce, Fenner & Smith Incorporated, KeyBanc Capital Markets and Citizens Bank, National Association as joint lead arrangers and joint bookrunners.
American Healthcare Investors’ and Griffin-American Healthcare REIT IV’s Jeff Hanson says, “This credit facility essentially replaces one that was due to mature in 2019, with better terms that we believe will benefit our investors and allow us to continue to accretively grow the portfolio of Griffin-American Healthcare REIT IV.”
The credit facility may be utilized for refinancing existing debt and for general corporate purposes including, without limitation, property acquisitions. The credit facility matures on Nov. 19, 2021, but may be extended for one 12-month period.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing