CHARLOTTE, N.C., Oct. 20, 2022 — Flagship Healthcare Trust, Inc. (Flagship REIT), a Charlotte-based outpatient healthcare real estate investment trust, has expanded its syndicated senior revolving credit facility arranged by Fifth Third Bank.
The $265 million senior secured credit facility has a $100 million revolver and a $165 million term loan. Flagship also increased its borrowing capacity by an additional $200 million through an accordion feature.
Created in 2018, Flagship REIT is managed by its affiliate, Flagship Healthcare Properties, LLC (FHP), and holds more than 87 healthcare properties valued at over $800 million throughout the Mid-Atlantic and Southeast. Flagship REIT plans to continue growing its portfolio and supporting healthcare providers, allowing them to focus on delivering exceptional patient care.
“The new revolving credit facility boosts our financial capability and improves our capital efficiency,” said President and Chief Executive Officer J. Brannen Edge III. “In the competitive landscape of healthcare real estate, speed and certainty are important differentiators, and this expanded facility provides both.”
Nine other banks are participating in the credit facility with Fifth Third Bank, National Association serving as the sole bookrunner and lead arranger.
For more information about Flagship REIT and FHP, visit www.FlagshipHP.com.