NEW
YORK, May 9, 2024 /PRNewswire/ -- First
Citizens Bank today announced that its Healthcare
Finance business served as lead arranger for a $260 million loan to refinance a portfolio of 12
skilled nursing facilities in Maryland.
The borrower is a Midwest-based healthcare real estate
investment and management company that invests in a
variety of post-acute facilities with Investments in over 24
states.
These specific licensed facilities represent more than 1,500
skilled nursing beds, which typically offer care to individuals who
need rehabilitation from injury, wound care or who suffer from
serious or persistent health issues requiring 24-hour medical
attention.
"Skilled Nursing is a critical piece of the post-acute spectrum
of care, and we are pleased to have supported this financing on
behalf of a new client," said William
Douglass, head of First Citizens Healthcare Finance.
"Our team quickly understood the key needs and priorities and
were able to leverage First Citizen's sector knowledge to ensure a
smooth execution. We were able to deliver on the promises we made,"
said Michael Coiley, a managing
director on the Healthcare Finance team.
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:
John M.
Moran
212-461-5507
john.moran2@firstcitizens.com
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SOURCE First Citizens Bank