By IvyLee Rosario
Capital One has added seven senior housing communities owned by subsidiaries of Healthcare Trust Inc. (HTI) to HTI’s Fannie Mae credit facility. The transaction brings the total to $216.6 million, for an increase of $64.2 million. HTI is a non-traded REIT with 185 assets that focus on health-care-related assets, including senior housing properties, medical office buildings and other health-care-related facilities.
“Capital One’s health-care team executed well for us. Capital One was able to provide a large bridge facility on a portfolio of 23 properties in just five weeks,” said Todd Jensen, CEO of HTI.
Last December, Capital One served as the administrative agent and sole lender for an $82 million senior secured credit facility, providing a bridge to long-term agency financing for a 23-property senior housing portfolio across six states, which included these seven communities.
“This transaction is a great example of how we’re offering a one-stop-shop for our clients by providing both balance sheet and agency loans. We worked closely with the team at HTI to understand their long-term plans for the portfolio and tailored the financing accordingly,” Kristen Ahrens, managing director of Capital One Healthcare, told Multi-Housing News.
Image courtesy of Capital One Healthcare