FOR IMMEDIATE RELEASE
New credit facility supports the continued expansion of CAHST’s national medical office and life sciences portfolio
The CAHST team includes, from left to right, back row: Jesse Ostrow, Russell Brenner, Maribel Beltran and Peter Souri. Front row, left to right, Herschel Harris, Felicia Shotkoski, Loriann Duffy, Peter Martin and Jared Schnoll. (Photo courtesy of CAHST)
CHICAGO (February 10, 2022) – CA Health and Science Trust, Inc., a private real estate investment trust (REIT) focused on the acquisition and development of value-add and core-plus medical office and life science facilities across the U.S., today announced the closing of a new revolving credit facility (the “Credit Facility”). The Credit Facility provides CAHST borrowing capacity of up to $275 million with an accordion feature permitting the expansion to $600 million subject to certain conditions.
“We are excited about the support of top financial institutions such as KeyBank to close on the $275 million revolving credit facility which marks a critical milestone in the execution of our growth strategy,” said Russell Brenner, President of CAHST.
“We’ve entered 2022 with a robust national pipeline, and this credit facility will support our ability to maintain substantial and readily available capital resources to close investment transactions efficiently,” added Jesse Ostrow, CAHST Chief Investment Officer.
The Credit Facility was arranged by KeyBank National Association which served as administrative agent, People’s United Bank, National Association, and BofA Securities, Inc. which served as co-syndication agents, and Capital One, National Association, S&T Bank and First Financial Bank as participants.
The offering and sale of securities pursuant to the investment was conducted pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and have been sold in a private placement pursuant to Regulation D under the Securities Act. The sale of securities pursuant to the investment has not been registered under the Securities Act and may not be sold in the U.S. absent registration or an exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About CA Health and Science Trust, Inc.
CA Health and Science Trust, Inc. (“CAHST”) is an externally managed private Real Estate Investment Trust (REIT) based in Chicago, Illinois, strategically designed to invest in the acquisition and development of core-plus, value-add medical office and life science facilities across the United States. CAHST is backed by prominent global investment firms Davidson Kempner and Monarch Alternative Capital, and is externally managed by CAHST Management LLC, a global vertically integrated real estate investment management company affiliated with CA Ventures. For more information, visit www.cahstreit.com.
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