Carter Validus lifts pool amount by $15.5 million under KeyBank loans

By Susanna Moon

Chicago, March 22 – Carter Validus Mission Critical REIT II, Inc.’s operating partnership Carter Validus Operating Partnership II, LP increased the pool availability by about $15.51 million under its credit facility with KeyBank NA as agent.

The company entered into a joinder agreement with KeyBank on March 17 in connection with its acquisition of five health care properties in a health care portfolio, CVOP II, to add the properties to the pool of the KeyBank facility, according to an 8-K filing with the Securities and Exchange Commission.

As of March 22, CVOP II had a total pool availability under the KeyBank facility of $248,161,927 and an aggregate outstanding balance of $110 million. At the time, $138,161,927 remained to be drawn on the KeyBank facility.

The actual amount of credit available under the KeyBank facility is a function of loan-to-cost, loan-to-value and debt service coverage ratios contained in the credit amendment, the filing noted.

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

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