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New York & Tri-State  + New York  + Finance  |  June 1, 2023
Emily Fu
By: Emily Fu

Healthcare Trust Closes $240M CMBS Loan 

Healthcare Trust (HTI) has completed a $240 million commercial mortgage-backed security loan encumbered by 62 medical office buildings across the United States.  

The loan, which has a 10-year term and an interest-only rate of 6.453%, was used to repay $196 million and terminate the company’s credit facility with KeyBank. HTI will also be terminating interest rate swap contracts that were implemented to hedge interest rate exposure under the credit facility.  

With approximately $39 million remaining from the loan, HTI intends to utilize the funds for general corporate purposes, including potential acquisitions. Repaying the credit facility enables HTI to eliminate restrictive covenants imposed since 2020, enhancing the company’s growth potential and adaptability in the evolving landscape of healthcare real estate following the COVID-19 pandemic. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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  • ◦Financing