trending Market Intelligence /marketintelligence/en/news-insights/trending/CXom6VVAmNtOA49ZA2_fcA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Senior Housing Properties closes $620M loan

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Senior Housing Properties closes $620M loan

Senior HousingProperties Trust closed on a $620 million mortgage loan secured bytwo class A life-science buildings in Boston's Seaport District.

The 10-year loan will mature in August 2026. It isnonamortizing and carries a fixed interest rate of 3.53% per annum. MorganStanley and Citi provided the loan financing. Eastdil Secured acted as thecompany's adviser and Skadden Arps Meagher & Flom LLP provided legalcounsel

Senior Housing Properties intends to use the proceedsarising from the loan to partially repay outstanding borrowings under its $1billion unsecured revolving credit facility and for general business purposes.Following the repayment, roughly $900 million will be available under thecompany's unsecured revolving credit facility.

The company had paid $1.13 billion in May 2014 for the two15-story buildings, which are 96% leased to Vertex Pharmaceuticals Inc. through2028.