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First Citizens Bank Provides $52.4MM to Finance Portfolio of Medical Office Building Properties

February 01, 2023, 07:12 AM
Filed Under: Real Estate

First Citizens Bank announced that its Healthcare Finance group, part of the CIT division, has provided $52.4 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties.

The portfolio consists of an aggregate of more than 300,000 square feet of space in 13 properties spread across various states, including Virginia, Texas, Tennessee, Indiana, Wisconsin, Connecticut and California.

“We appreciated the Healthcare Finance team’s industry knowledge and efficiency in helping finance this portfolio of medical facilities as we continue to develop our business,” said Antonio Minchella, senior managing director – Medical Office at Kayne Anderson. “We have worked successfully with this finance team on multiple opportunities in the past and look forward to doing so again in the future.”

"We are pleased to again support Kayne Anderson Real Estate and Remedy Medical Properties in advancing their business objectives,” said William Douglass, managing director and group head for CIT Healthcare Finance. “As regular real estate investors, they are known throughout the industry for their high-quality portfolios of medical office buildings."

"With our deep industry relationships, experience and market expertise, we are pleased to support Kayne Anderson Real Estate and Remedy Medical Properties by creating unique financing tailored to meet their needs," said Steven Reedy, a managing director in Healthcare Finance.

Healthcare Finance, part of First Citizens’ CIT division, provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. By using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for capital.

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