Senior Housing plans to pay down revolver with some new loan proceeds

By Wendy Van Sickle

Columbus, Ohio, July 19 – Senior Housing Properties Trust plans to repay borrowings under its $1 billion revolving credit facility with some proceeds of two new loan agreements totaling $620 million, according to an 8-K filing with the Securities and Exchange Commission.

Senior Housing entered the new loan agreements with Morgan Stanley Bank, NA, Morgan Stanley Mortgage Capital Holdings LLC and Citigroup Global Markets Realty Corp. on Friday.

The loans are secured by two buildings the company owns in Boston. They mature in 2026, are non-amortizing and require monthly interest payments at a weighted average annual fixed rate of 3.53% of the outstanding principal amount.

The trust also plans to use some proceeds for general corporate purposes.

The real estate investment trust for senior living properties is based in Newton, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.