JACKSONVILLE, Fla., Nov. 15,
2023 /PRNewswire/ -- First Citizens Bank today
announced that its Healthcare Finance business provided
$17.5 million in financing to Norvin
Healthcare Properties for the acquisition of PAM Health Warm
Springs Rehabilitation Hospital located in Northeast San Antonio, Texas.
The property, built in 2021, is a 40-bed, freestanding,
inpatient rehabilitation facility totaling 38,667 in rentable
square footage located at 11407 Wayland Way, San Antonio, Texas. The hospital is
conveniently located off the major north-south interstate highway
I-35 in Texas' second most
populous city.
"We're pleased to work again with First Citizens' Healthcare
Finance team and appreciate their solid reputation and healthcare
expertise to support the financing of our growing portfolio," said
Norman Livingston, co-founder and
managing partner of Norvin Healthcare Properties.
"Norvin Healthcare Properties is well known for their portfolio
of high-quality medical office buildings and for their skill in
identifying attractive opportunities in the healthcare real estate
market," said William Douglass,
managing director and group head of First Citizens Bank's
Healthcare Finance business.
"We are pleased to continue our support of Norvin Healthcare
Properties as we continue to grow our banking relationships where
we leverage our deep industry experience and market expertise to
support our clients unique financing needs," said Steven Reedy, managing director and relationship
manager with First Citizens Bank's Healthcare Finance.
First Citizens Healthcare Finance provides comprehensive
financing and banking solutions to middle market healthcare
companies across the U.S. Using a client-focused and
industry-centric model, Healthcare Finance can tailor its products
and services to help clients meet their needs for growth
capital.
About First Citizens Bank
First Citizens Bank helps
personal, business, commercial and wealth clients build financial
strength that lasts. Headquartered in Raleigh, N.C., and now
celebrating the 125th anniversary of its founding, First Citizens
has built a unique legacy of strength, stability and long-term
thinking that has spanned generations. First Citizens offers an
array of general banking services including a network of more than
500 branches and offices in 30 states; commercial banking expertise
delivering best-in-class lending, leasing and other financial
services coast to coast; innovation banking serving businesses at
every stage; and a nationwide direct bank. Parent company First
Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S.
financial institution with more than $200 billion in
assets. Discover more at firstcitizens.com.
MEDIA RELATIONS:
Ella Bristow
212-461-5322
Ella.bristow@firstcitizens.com
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SOURCE First Citizens Bank