CNL Healthcare increases revolving line of credit to $240 million

By Angela McDaniels

Tacoma, Wash., March 5 - CNL Healthcare Properties, Inc. and its operating company, CHP Partners, LP, exercised a portion of the accordion feature of their revolving line of credit due 2016, increasing the size of the revolver to $240 million from $120 million.

The increase was made on Feb. 27, according to an 8-K filing with the Securities and Exchange Commission on Wednesday.

The accordion feature lets the company increase the size by up to $205 million.

The interest rate is Libor plus 225 basis points to 325 bps depending on the company's leverage ratio.

Keybank NA is the administrative agent.

CNL is an Orlando, Fla.-based real estate investment trust with a focus on the senior housing and health-care sectors.

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