Item 1.01. Entry into a Material Definitive Agreement.
On
The Loan is secured by, among other things, first priority mortgages on the
Borrowers' interests in 62 medical office buildings. The Loan has a 10-year term
and is interest-only at a fixed rate of 6.453% per year. The Loan Agreement
requires the Company to pay interest on a monthly basis with the principal
balance due on the maturity date of
The Company may prepay the Loan, in whole (or in part, subject to the
satisfaction of the partial release conditions in Section 2.5.2 of the Loan
Agreement) at any time after one year from closing, with no less than thirty
days prior written notice to Lender, subject to a pre-payment premium equal to
the Yield Maintenance Premium (as defined in the Loan Agreement). In addition,
following the earlier of
At the closing of the Loan, the Company applied approximately
Pursuant to the Guaranty, the OP has (i) guaranteed the full repayment of the Loan in the case of certain major defaults by a Borrower or the OP, including bankruptcy, and (ii) indemnified the Lenders against losses, costs or liabilities related to certain other "bad boy" acts of any Borrower or the OP, including fraud, willful misconduct, bad faith, and gross negligence. Pursuant to the Environmental Indemnity, the OP and the Borrowers have indemnified the Lenders against losses, costs or liabilities related to certain environmental matters.
The descriptions in this Current Report on Form 8-K of the Loan Agreement, the Guaranty and the Environmental Indemnity are summaries and are qualified in their entirety by the terms of the Loan Agreement, the Guaranty and the Environmental Indemnity. Copies of the Loan Agreement, the Guaranty and the Environmental Indemnity are attached as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3, respectively, to this Current Report on Form 8-K and incorporated by reference herein.
Item 1.02 Termination of a Material Definitive Agreement.
The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the termination of the Credit Facility is incorporated herein by reference.
Item. 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure
On
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Loan Agreement, dated as ofMay 24, 2023 , among the borrower entities party thereto,Barclays Capital Real Estate Inc. , Société Générale Financial Corporation, andKeyBank National Association . 10.2 Guaranty Agreement, dated as ofMay 24, 2023 , byHealthcare Trust Operating Partnership, L.P. in favor ofBarclays Capital Real Estate Inc. , Société Générale Financial Corporation, andKeyBank National Association . 10.3 Environmental Indemnity Agreement, dated as ofMay 24, 2023 , byHealthcare Trust Operating Partnership, L.P. and the borrower entities party thereto, for the benefit ofBarclays Capital Real Estate Inc. , Société Générale Financial Corporation, andKeyBank National Association . 99.1 Press Release datedMay 31, 2023 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL
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