---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-293332"
form_type: "8-K"
ticker: null
cik: "0001496454"
company_name: "CNL Healthcare Properties, Inc."
filed_at: "2023-12-12T23:59:59+00:00"
generated_at: "2026-06-07T14:07:24.732139+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CNL Healthcare closes $600M credit facilities refinancing six months early

## Summary
- New $250M revolver and $350M term loan, each maturing May 31, 2026; replaces prior facilities.
- Interest at Term SOFR + 225 bps; prepayable without penalty; unused fee of 0.20% or 0.15%.
- Covenants: max leverage 40%, min fixed charge coverage 1.5x, unencumbered asset pool of ≥$500M, ≥80% occupancy.
- CEO letter: occupancy rebuilding slower than expected; strategic transaction not concluded in 2023 due to market conditions.
- Refinancing completed six months ahead of maturity; aggregate leverage under 31%.

## SEC filing metadata
- accession: 0001193125-23-293332
- form_type: 8-K
- cik: 0001496454
- company_name: CNL Healthcare Properties, Inc.
- filed_at: 2023-12-12T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1496454/000119312523293332/0001193125-23-293332-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1496454/000119312523293332/d652210d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-293332
- JSON: https://secwatch.observer/filing/0001193125-23-293332.json
- Plain text: https://secwatch.observer/filing/0001193125-23-293332.txt

## Key facts
- Debt Financings
  CNL Healthcare Properties, Inc. incurred term loan of $350 million senior unsecured term loan facility with KeyBank National Association, as administrative agent, and certain participating lenders at term SOFR rates plus an applicable margin of 225 basis points maturing May 31, 2026.
  - Instrument: term loan
  - Principal: $350 million senior unsecured term loan facility
  - Counterparty: KeyBank National Association, as administrative agent, and certain participating lenders
  - Rate: term SOFR rates plus an applicable margin of 225 basis points
  - Maturity: May 31, 2026
  - Event: incurrence
  source text: On December 7, 2023, CNL Healthcare Properties, Inc.'s (the "Company's") operating partnership, CHP Partners, LP (the "Operating Partnership") as borrower, KeyBank National Association ("KeyBank"), as administrative agent, and certain participating lenders (the "Lenders") entered into a credit agreement (the "Credit Agreement") providing for both (i) a $250 million senior unsecured revolving credit facility (the "Revolving Credit Facility") and (ii) a $350 million senior unsecured term loan facility (the "Term Loan Facility" and, together with the Revolving Credit Facility, the "Credit Facilities"), each with a maturity date of May 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1496454/000119312523293332/0001193125-23-293332-index.htm
- Debt Financings
  CNL Healthcare Properties, Inc. incurred credit facility of $250 million senior unsecured revolving credit facility with KeyBank National Association, as administrative agent, and certain participating lenders at term SOFR rates plus an applicable margin of 225 basis points maturing May 31, 2026.
  - Instrument: credit facility
  - Principal: $250 million senior unsecured revolving credit facility
  - Counterparty: KeyBank National Association, as administrative agent, and certain participating lenders
  - Rate: term SOFR rates plus an applicable margin of 225 basis points
  - Maturity: May 31, 2026
  - Event: incurrence
  source text: On December 7, 2023, CNL Healthcare Properties, Inc.'s (the "Company's") operating partnership, CHP Partners, LP (the "Operating Partnership") as borrower, KeyBank National Association ("KeyBank"), as administrative agent, and certain participating lenders (the "Lenders") entered into a credit agreement (the "Credit Agreement") providing for both (i) a $250 million senior unsecured revolving credit facility (the "Revolving Credit Facility") and (ii) a $350 million senior unsecured term loan facility (the "Term Loan Facility" and, together with the Revolving Credit Facility, the "Credit Facilities"), each with a maturity date of May 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1496454/000119312523293332/0001193125-23-293332-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.