National Healthcare Properties Announces Closing of New $550 Million Senior Unsecured Credit Facility
Summary
NHP used borrowings under the Credit Facility to pay off its existing $330 million secured term loan maturing in December 2026 and expects to use future borrowings for acquisitions, working capital and general corporate purposes.Michael Anderson, Chief Executive Officer and President, noted, The new Credit Facility strengthens our balance sheet and liquidity position as we continue to execute on our long-term growth strategy. We appreciate the support and confidence that our lending partners have placed in NHP.The new Credit Facility provides current and future financial capacity to execute on our senior housing operating properties pipeline while offering flexibility to further our deleveraging strategy in a disciplined manner, said Andrew Babin, Chief Financial Officer and Treasurer.Wells Fargo Securities, LLC and BMO Bank N.A. Greenberg Traurig, LLP served as counsel to NHP.National Healthcare Properties, Inc. (Nasdaq: NHPAP / NHPBP) is a publicly registered real estate investment trust focused on acquiring a diversified portfolio of healthcare real estate, with an emphasis on seniors housing and outpatient medical facilities located in the United States. Additional information about NHP can be found on its website at nhpreit.com.This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. When NHP uses words such as may, will, intend, should, believe, expect, anticipate, project, estimate or similar expressions, it is making forward-looking statements.