Senior Housing to fund office buildings acquisition with revolver draw

By Tali Rackner

Norfolk, Va., Sept. 2 – Senior Housing Properties Trust plans to use borrowings under its unsecured revolving bank credit facility and cash on hand to help fund the purchase of 23 class A medical office buildings, according to a press release.

On a longer-term basis, the trust expects to finance the acquisition with a mix of debt and equity capital, depending on the cost of the financings and future market conditions.

The acquisition GAAP capitalization rate is expected to be roughly 6.4%.

Senior Housing is a real estate investment trust based in Newton, Mass.

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