Business Context and Reporting Period
This Form 8-K is filed by Grubb & Ellis Healthcare REIT, Inc. (also referenced as Healthcare Realty Trust Inc in metadata) for the reporting period ending December 19, 2007. The filing details the execution of specific security agreements and loan modifications related to the company's credit facilities.
Key Financial Metrics and Obligations
- Debt Facility: A secured revolving line of credit with LaSalle and KeyBank National Association.
- Aggregate Maximum Principal: Increased from $50,000,000 to $80,000,000.
- Collateral: The Lima Medical Office Portfolio, acquired on December 7, 2007.
- 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 line capacity.
Material Changes Versus Prior Period
The primary material change reported is the expansion of the company's credit facility. Previously reported on September 14, 2007, as a $50,000,000 line with LaSalle, the facility was amended on December 18, 2007, to increase the maximum principal to $80,000,000 and add KeyBank as a lender. On December 19, 2007, the company executed specific mortgage and security agreements to secure this line with the Lima Medical Office Portfolio.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard legal qualifications of the loan agreements. The document notes the execution of a Joinder Agreement and an Environmental Indemnity Agreement in connection with the credit line.
Investor Verification Checklist
- Verify the terms of the $80,000,000 revolving credit facility, including interest rates and covenants.
- Confirm the valuation and lease status of the Lima Medical Office Portfolio used as collateral.
- Review the Environmental Indemnity Agreement for potential contingent liabilities.
- Check subsequent filings for the actual utilization of the increased credit line.