REIT Closes $700M LOC

Health Care REIT, Toledo, Ohio, has closed a $700 million unsecured revolving credit facility, replacing a $500 million facility that was scheduled to mature in June 2008.The real estate investment trust said the new facility is available until July 2009, with the option to extend for an additional year. In addition to the increased borrowing capacity, the new facility provides greater financial flexibility than the old one, the REIT said. KeyBank NA was a joint lead arranger and the administrative agent of the facility, and Deutsche Bank was the other joint lead arranger and the syndication agent. The REIT can be found on the Web at http://www.hcreit.com.