Aviv REIT Closes New $600 Million Unsecured Credit Facility

CHICAGO, May 14, 2014 /PRNewswire/ -- Aviv REIT, Inc. (NYSE: AVIV) announced today it has refinanced its existing $400 million secured revolving credit facility with a new $600 million unsecured revolving credit facility (the "Credit Facility"). The Credit Facility has a rate that ranges from 170 to 225 basis points over LIBOR depending on the Company's consolidated leverage and a maturity date of May 2018. The Credit Facility can be extended for an additional year at the Company's option, subject to the satisfaction of certain conditions, and contains an accordion feature increasing the borrowing capacity to $800 million. At closing, the Company had no borrowings outstanding under the Credit Facility.

"This unsecured credit facility provides us with more capacity, greater flexibility and lower costs, all of which should facilitate our growth, and we are pleased to receive significant interest from new and existing lending relationships," said Craig M. Bernfield, Chairman and Chief Executive Officer of Aviv.

Bank of America, N.A. is serving as the Administrative Agent. Merrill Lynch, Pierce, Fenner, & Smith Inc., Sun Trust Robinson Humphrey, Inc. and RBS Citizens N.A. served as Joint Lead Arrangers. SunTrust Bank and RBS Citizens N.A. served as Co-Syndication Agents. Barclays Bank PLC, Credit Agricole - Corporate and Investment Bank, Goldman Sachs Bank USA, KeyBank National Association and Morgan Stanley Senior Funding, Inc. served as Co-Documentation Agents.

About Aviv
Aviv REIT, Inc., based in Chicago, is a real estate investment trust that specializes in owning post-acute and long-term care skilled nursing facilities and other healthcare properties. Aviv is one of the largest owners of SNFs in the United States and has been in the business for over 30 years. The Company currently owns 303 properties that are triple-net leased to 39 operators in 29 states.

For more information about the Company, please visit our website at www.avivreit.com or contact:
David J. Smith, Managing Director, Investor Relations & Capital Markets at 312-855-0930.

Forward-Looking Statements
The information presented herein includes forward-looking statements. Examples of forward-looking statements include all statements regarding our future operator relationships, business strategy, projected growth opportunities and potential acquisitions. These forward-looking statements are made based on our current expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed in or implied by these statements. These factors include, among others:  uncertainties relating to the operations of our operators; our ability to successfully engage in strategic acquisitions and investments; competition in the acquisition and ownership of healthcare properties; the availability and cost of capital; the amount and yield of any additional investments; and other factors  disclosed under "Risk Factors" and elsewhere in filings made by us with the Securities and Exchange Commission. Except as required by law, we do not undertake any responsibility to release publicly any revisions to these forward-looking statements to take into account events or circumstances that occur after the date as of which such statements are made or to update you on the occurrence of any unanticipated events which may cause actual results to differ from those expressed or implied by the forward-looking statements contained herein.

SOURCE Aviv REIT, Inc.