First Citizens Bank announced that its Healthcare Finance business served as joint lead arranger on a $63.2 million facility to support IRA Capital’s acquisition of three high-performing healthcare properties in Texas.

The portfolio includes Houston Physicians’ Hospital, a full-service specialty surgical facility located in Webster, Texas, along with two outpatient aquatic therapy centers.  The properties are 100% leased to a joint venture comprising Memorial Hermann Health System, United Surgical Partners International, and local physician partners -  offering a combination of inpatient and outpatient musculoskeletal and rehabilitation services.

Headquartered in Irvine, California, IRA Capital is a national real estate investment firm with a strong track record in healthcare.  The firm’s portfolio spans medical outpatient buildings, ambulatory surgery centers, and specialty hospitals in major U.S. markets.

“We are delighted to add these strategic assets to our portfolio,  anchored by the largest health system in Houston,” said Amer Kasm, co-founder and Managing Partner at IRA Capital. “The facilities are well-positioned to meet rising healthcare demand across the Houston market, and we’re grateful for First Citizen’s support in helping us efficiently execute this acquisition.”

“IRA Capital’s approach to healthcare investing aligns with our focus on supporting sponsors who are committed to delivering long-term value in the medical real estate sector,” said Steve Reedy, a managing director and head of Medical Office Banking with First Citizens Bank. “We’re proud to be a financing partner on this strategic acquisition.”

“Healthcare delivery continues to evolve toward integrated, patient-centered models of care,” said William Douglass, managing director and group head of the Healthcare Finance business at First Citizens Bank. “We’re pleased to support IRA Capital’s investment in high-quality, specialized facilities that serve growing communities across the Houston area.”