Capital One Ups HTI Fannie Mae Credit Facility to $216M
The company served as the sole lender, providing a bridge to long-term agency financing for a 23-property senior housing portfolio across six states.
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