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Care Capital to draw down on revolver to fund portion of acquisition
By Wendy Van Sickle
Columbus, Ohio, April 10 – Care Capital Properties, LP plans to draw down on its revolving credit facility to fund part of its acquisition of a portfolio of six behavioral health hospitals in California, Arizona and Illinois, according to a press release.
Care Capital said it has entered into a definitive agreement to acquire the hospitals in a sale-leaseback transaction for $400 million. It will also use cash on hand and disposition proceeds to fund the purchase.
Care Capital Properties is a health-care real estate investment trust based in Chicago.
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