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First Citizens Bank Provides $37MM to Refinance On Campus Medical Office Building

February 08, 2024, 07:11 AM
Filed Under: Real Estate

First Citizens Bank's Healthcare Finance business provided $37 million to Rethink Healthcare Real Estate to refinance Grandview Physicians Plaza I, a medical office building located in Birmingham, Alabama.
The medical office building spans over 200,000 rentable square feet and is located on the Grandview Medical Center campus. The property is conveniently located near the border of Jefferson and Shelby counties on US 280.

Tenants include the hospital and practices specializing in endoscopy, imaging, orthopedics, women's health services, internal medicine, physical therapy, and a range of other services.

"Grandview Physicians Plaza I is an important medical facility that is critical to supporting the activities of the attached hospital," said Jonathan Winer, President & CIO of Rethink Healthcare Real Estate. "We appreciate First Citizens' industry knowledge and their efficient execution of the financing."

"We are pleased to work with Rethink Healthcare again, a valued client of First Citizens, in arranging financing for this property," said William Douglass, Managing Director and Group Head for First Citizens Healthcare Finance.

"It is always a pleasure to work with Rethink Healthcare Real Estate, and to continue to support the relationship through the refinancing of this best in class, on campus, medical office building," said Steve Reedy, Managing Director and Head of Medical Office Banking at First Citizens.

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