Business Context and Reporting Period
Company: Grubb & Ellis Healthcare REIT, Inc. (Note: Input metadata references "Healthcare Realty Trust Inc," but the filing text identifies the registrant as Grubb & Ellis Healthcare REIT, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: December 20, 2007
Reporting Period: Specific event date of December 20, 2007.
Key Financial Metrics and Obligations
- Debt Facility: Secured revolving line of credit with LaSalle and KeyBank National Association.
- Aggregate Maximum Principal: Increased to $80,000,000 (previously $50,000,000).
- Collateral: The "Tucson Medical Office Portfolio" acquired on November 20, 2007, for $21,050,000.
- Revenue/Profit/Cash Flow: The filing text does not provide a clear value for revenue, profit, cash flow, or margins.
- Liquidity: The filing text does not provide a clear value for current liquidity positions beyond the credit facility capacity.
Material Changes
- Debt Expansion: The company amended its loan agreement to increase the credit line capacity by $30,000,000.
- Lender Addition: KeyBank National Association was added as a lender to the existing LaSalle line of credit.
- Collateral Securitization: On December 20, 2007, the company executed security agreements (Deed of Trust, Assignment of Leases, etc.) to secure the line of credit with the recently acquired Tucson Medical Office Portfolio.
Outlook, Risks, and Management Commentary
Management Commentary: The filing confirms the execution of security instruments to align the terms of the loan agreements with the newly acquired Tucson Medical Office Portfolio. No forward-looking guidance or specific risk factors were detailed in this specific 8-K text beyond the standard obligations of the secured debt.
Unusual Items: None reported in this filing.
Investor Verification Checklist
- Verify the exact terms and interest rates of the amended $80,000,000 revolving credit facility with LaSalle and KeyBank.
- Confirm the current utilization rate of the $80,000,000 credit line.
- Review the specific covenants and environmental indemnity agreements associated with the Tucson Medical Office Portfolio collateral.
- Check subsequent filings for any drawdowns on the increased credit capacity.