CNL Healthcare Properties enters into $405 million loan

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CNL Healthcare Properties, a real estate investment trust, entered into a $405 million unsecured credit facility and term loan, which can be expanded to $700 million, the company said this week.

The new credit facility, led by KeyBank National Association, has nine other participating lenders. These include JPMorgan Chase Bank, SunTrust Bank, Bank of America, Compass Bank, and Fifth Third Bank.

CNL Healthcare Properties owned 55 senior housing communities and 45 healthcare properties.

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