Carter Validus lifts borrowing base availability to $86.98 million

By Angela McDaniels

Tacoma, Wash., June 12 - Carter Validus Mission Critical REIT, Inc. operating partnership Carter/Validus Operating Partnership, LP added a new health-care facility to the collateral pool of its $110 million credit facility with KeyBank NA, increasing its borrowing base availability by about $2.24 million.

The increase brought the total borrowing base availability under the facility to $86.98 million, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility consists of a $55 million revolving line of credit due Nov. 19, 2015 and a $55 million term loan due Nov. 19, 2016.

The interest rate for the credit facility is Libor plus 250 basis points to 350 bps based on leverage.

As of June 6, the company had a $55 million outstanding balance and $31.98 million of remaining availability under the facility.

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

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