Carter Validus credit facility availability rises by $52.25 million

By Wendy Van Sickle

Columbus, Ohio, July 28 – Carter Validus Mission Critical REIT II, Inc. increased pool availability under its revolving credit facility by about $52.25 million last week in connection with two real estate acquisitions, according to an 8-K filed with the Securities and Exchange Commission.

The company’s July 22 acquisition of a portfolio of five healthcare properties and a resulting joinder agreement with KeyBank NA added $37,805,626 to the pool availability.

A separate July 24 acquisition of another healthcare property added an additional $14,447,388 to the availability pool.

The actual amount of credit available under the facility is a function of certain loan-to-cost, loan-to-value and debt service coverage ratios. As of Thursday, the aggregate pool availability was $72,368,570, and $70 million was outstanding under the facility.

The facility matures Dec. 17, 2017 and has a one-year extension option.

Carter Validus is a Tampa, Fla.-based real estate investment trust with a focus on data center and medical properties.

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