Lillibridge secures $250 million in debt refinancing

CHICAGO IL, Aug-12, 2009 - Despite the challenging credit market, Chicago-based Lillibridge, one of the nation's largest private healthcare real estate firms, has secured $250 million in debt refinancing in a series of deals that closed earlier this quarter.

The refinancings came from a multitude of lenders and solidifies the company's debt for another three to four years. The $250 million represents about a third of Lillibridge's debt. The refinancing does not include any construction loans but is for permanent financing on existing healthcare properties.

"It is due to the company's strength that we were able to refinance this debt in this economy," says Joe Kurzydym, EVP and CFO, Lillibridge. "We not only acquire and develop medical buildings, we manage all our own assets and do business with the highest rated healthcare providers. Our assets are well-operated and well-leased, and I believe that these factors separate us from others in the industry."

Lillibridge owns close to 6 million square feet of healthcare real estate in 16 states. These properties include developments, repositionings, and the company's stabilized portfolio. Lillibridge has worked with more than 250 hospitals and health systems across the country.

"This refinance during these tough economic times shows that our company continues to have a very strong capital structure," says Lillibridge Chairman and CEO Todd W. Lillibridge. "It's a testament to the quality of properties that we own that we were able to secure this amount of debt financing. We are well-positioned for the future and continue develop and acquire high quality healthcare properties."