Windrose Medical Properties Trust, Indianapolis, has closed a $10 million secured mezzanine credit facility with The Huntington Real Estate Investment Co.Windrose, a real estate investment trust that focuses on specialty medical properties, said the facility is secured by its guarantee and by a pledge of interest in a single-purpose entity owning an individual property. The REIT said the facility will be used for self-developed construction projects and acquisitions. The line is available for draws over a 24-month period, with each draw having a two-year term. Windrose also announced the closing of a $4 million working capital facility with Union Planters Bank, Indianapolis. The REIT can be found on the Web at http://www.windrosempt.com.
Medical REIT Closes Credit Facility
October 16, 2003, 2:00 p.m. EDT 1 Min Read
