American Healthcare REIT Amends Credit Facility and Provides Update on Key Post-Offering Initiatives
Summary
IRVINE, Calif., Feb. 21, 2024 /PRNewswire/ -- American Healthcare REIT, Inc. (NYSE: AHR) announced today that it has amended its existing credit facility, extending its maturity date and increasing its size to up to $1,150,000,000. "We are pleased with the new terms of our credit facility with our lending partners," said Danny Prosky, President and Chief Executive Officer of American Healthcare REIT. This significant reduction in outstanding debt has resulted in a meaningful improvement in the companys leverage metrics and will result in approximately $54 million in interest expense savings on an annualized basis.On portfolio performance, the company reported updated occupancies for its important Integrated Senior Health Campuses and Senior Housing Operating Portfolio (SHOP) segments that showed continued growth. We expect that our strengthened balance sheet coupled with strong portfolio performance, driven by our senior housing investments, will position the company well to grow value for our stockholders. As of September 30, 2023, its total assets of approximately $4.6 billion consisted of 298 buildings and integrated senior health campuses owned and/or operated by the company that are located in 36 states, the United Kingdom and the Isle of Man, representing approximately 18.9 million square feet of gross leasable area.Forward-Looking StatementsCertain statements contained in this press release, including statements relating to the companys expectations regarding its portfolio growth, interest expense savings and balance sheet, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.