Healthcare Trust obtains $64.2 million advance under credit facility

By Sarah Lizee

Olympia, Wash., March 8 – Healthcare Trust, Inc. obtained a roughly $64.2 million advance under its master credit facility agreement dated Oct. 31, 2016 with Capital One Multifamily Finance, LLC, according to an 8-K filing with the Securities and Exchange Commission.

The company received the advance on March 2 through wholly owned subsidiaries of its operating partnership, Healthcare Trust Operating Partnership, LP.

Following the advance, about $216.7 million was outstanding under the facility.

Proceeds were used to prepay a portion of the debt under company’s bridge loan dated Dec. 28, 2017 with an affiliate of Capital One as administrative agent and lender.

Following the prepayment, about $20.3 million was outstanding under the bridge loan.

The advance bears interest at a rate of one-month Libor plus 232 basis points and matures on Nov. 1, 2026.

Monthly debt service payments on the advance will be interest-only for 48 months and principal and interest after that based on a 30-year amortization schedule.

The advance is prepayable after a one-year lockout period with a premium of 1% and, on or after July 31, 2026, without any premium.

Healthcare Trust is a real estate investment trust based in New York.

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