JACKSONVILLE, Fla., Jan. 25,
2024 /PRNewswire/ -- First Citizens Bank today
announced that its Healthcare Finance business provided
$36.2 million in acquisition
financing to Anchor Health Properties to recapitalize three medical
office buildings located in Charlotte,
North Carolina and Seattle,
Washington. Anchor Health Properties acquired these assets
directly for its own balance sheet.
"We appreciate the efforts of First Citizens Bank Healthcare
Finance division and their collective expertise in arranging this
financing for a timely and significant recapitalization of assets
previously owned in joint venture format," said James Schmid, chief investment officer and
managing partner of Anchor Health Properties. "First Citizens Bank
has once again proven to be a valued banking relationship
supporting the continued growth of our medical office building
portfolio."
"Anchor Health Properties is a valued client and we're delighted
to support their growth initiatives with this financing so they can
continue to build their high quality portfolio of medical office
buildings," said William Douglass,
group head for Healthcare Finance.
"This transaction is an example of the deep relationships we
foster with our clients that enable us to support them through
various business endeavors," said Steve
Reedy, a managing director and head of medical office
banking in 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., 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