Carter Validus increases revolver's borrowing base by $4.79 million

By Tali David

Minneapolis, Sept. 4 - Carter Validus Mission Critical REIT, Inc. operating partnership Carter/Validus Operating Partnership, LP entered into joinder agreements and an assignment of leases and rents with KeyBank NA to add its Akron General Integrated Medical Facility to the collateral pool of the KeyBank credit facility, which increased the borrowing base availability under the KeyBank credit facility by about $4,791,000, according to an 8-K filed with the Securities and Exchange Commission.

The Aug. 28 increase is in connection with the company's acquisition of the Akron General Integrated Medical Facility, a 38,564-rentable-square-foot medical facility located in Green, Ohio.

The revolver was issued in the amount of $225 million on April 4, 2012.

The operating partnership also pledged a security interest in the Akron General Integrated Medical Facility as collateral to secure the KeyBank credit facility pursuant to a mortgage agreement.

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

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