Carter Validus Accesses More Money For REIT II
A Tampa-based data center operator is drumming up more money for itself.
Carter Validus Mission Critical REIT has expanded its lender platform to include Woodforest National Bank, USAmeribank and Renasant Bank to push its KeyBank Credit Facility to $265M, including a $240M revolving line of credit that matures in December 2018.
The credit increase is specifically for its REIT II, and "subject to certain conditions, the KeyBank Credit Facility can be increased to $550M," Carter Validus officials state in documents filed with the SEC.
The REIT previously had $180M available in credit with KeyBank for its REIT II vehicle. Beyond data centers, Carter Validus also invests in healthcare properties. As of this summer, its REIT II owned more than $600M in properties, including nearly $100M in data centers and more than $500M in healthcare properties, including Urgent Care Cypress in Winter Haven (above).