Flagship Healthcare Trust, Inc. (Flagship REIT), a Charlotte-based outpatient healthcare real estate investment trust, has strengthened its capital position through the expansion of its syndicated senior revolving credit facilities, arranged by Fifth Third Bank.

The new $500 million senior secured credit facility includes a $175 million Revolving Credit Facility and a $325 million Term Loan. The facilities are secured through an equity pledge with an Unencumbered Pool Value of approximately $600 million.

“Completing the expansion and recast of this syndicated credit facility represents a major step forward in Flagship’s evolution,” said President and Chief Executive Officer J. Brannen Edge III. “Moving to a semi-unsecured structure provides us with additional flexibility and demonstrates our lending partners’ recognition of the continued growth and strength of Flagship’s portfolio, platform, and team, as well as our disciplined and prudent approach to debt financing.”

Mick Perillo, Managing Director and Head of Healthcare Real Estate for Fifth Third, added: “We are proud to have led the structuring and execution of this pivotal credit facility for Flagship. This transaction reflects not only our deep commitment to our clients, but also the strength and expertise of our team in delivering complex, strategic financing solutions. Supporting Flagship at this important stage of their growth is a privilege, and we look forward to continuing to help them achieve their long-term objectives.”

Established in 2018, Flagship REIT is managed by its affiliate, Flagship Healthcare Properties, LLC, which has developed more than 935,200 square feet of medical office space. The company also manages 8.4 million square feet of healthcare real estate across more than 385 properties, serving over 770 tenants.

“This new $500 million credit facility marks an important milestone for Flagship as we continue to scale,” said Andrew Dhionis, Vice President and Managing Director, Investments. “It streamlines our capital structure, extends our debt maturity profile, reduces borrowing costs, and provides us with the flexibility to pursue strategic growth through acquisitions and developments in the medical outpatient space.”

Eight additional financial institutions are participating in the expanded facility, with Fifth Third Bank, National Association acting as sole bookrunner and lead arranger.