First Citizens Bank’s healthcare finance business provided $36.2 million in acquisition financing to Anchor Health Properties to recapitalize three medical office buildings located in Charlotte, NC, and Seattle. Anchor Health Properties acquired these assets directly for its own balance sheet.
“We appreciate the efforts of First Citizens Bank Healthcare Finance division and their collective expertise in arranging this financing for a timely and significant recapitalization of assets previously owned in joint venture format,” James Schmid, chief investment officer and managing partner of Anchor Health Properties, said. “First Citizens Bank has once again proven to be a valued banking relationship supporting the continued growth of our medical office building portfolio.”
“Anchor Health Properties is a valued client and we’re delighted to support their growth initiatives with this financing so they can continue to build their high-quality portfolio of medical office buildings,” William Douglass, group head for healthcare finance at First Citizens Bank, said.
“This transaction is an example of the deep relationships we foster with our clients that enable us to support them through various business endeavors,” Steve Reedy, a managing director and head of medical office banking in healthcare finance at First Citizens Bank, said.
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