Flagship Healthcare gets $265 million credit facility

By William Gullotti

Buffalo, N.Y., Oct. 20 – Flagship Healthcare Trust, Inc. (Flagship REIT) announced it entered a $265 million senior secured credit facility, according to a press release on Thursday.

According to the press release, the facility is composed of a $165 million term loan and a $100 million revolver. The company also reported it already exercised a $200 million accordion feature.

No other details regarding the terms, tenor or interest rates were disclosed in the release.

Nine other banks are participating in the credit facility with Fifth Third Bank, NA serving as the lead arranger and bookrunner.

Created in 2018, Charlotte, N.C.,-based Flagship REIT is managed by its affiliate, Flagship Healthcare Properties, LLC, and owns clinical healthcare assets in the United States.

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