First Citizens Bank announced that its Healthcare Finance business provided $53.5 million in financing to an affiliate of Rethink Healthcare Real Estate to refinance Grandview Physicians Plaza II in Birmingham, AL.
Newly constructed in 2022, Grandview Plaza II covers over 140,000 square feet and is located on the Grandview Medical Center Campus that is occupied by Affinity Hospital and Grandview Plaza I. First Citizens Healthcare Finance also provided the takeout financing for Grandview Physicians Plaza I in 2024.
“Grandview Physicians Plaza II is a vital healthcare facility providing valuable support and serving the community’s’ healthcare needs,” said Jonathan Winer, president and chief investment officer of Rethink Healthcare Real Estate. “We value First Citizens’ deep industry knowledge and their diligent effort to provide financing solutions as we continue to enhance our healthcare real estate portfolio.”
“Rethink Healthcare is a valued client of First Citizens and have had a remarkable impact investing in healthcare real estate,” stated William Douglass, Managing Director and Group Head of First Citizens Healthcare Finance. “Our continued partnership highlights our dedication to clients through strategic financial solutions and long-term thinking.”
“Our approach to relationship banking has been crucial in crafting financing that aligns with Rethink’s long-term goals for their medical outpatient buildings,” said Steve Reedy, a managing director and head of Medical Office Banking at First Citizens Bank.
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 tailors its products and services to help clients meet their needs for growth capital.
