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

First Citizens Bank‘s healthcare finance group, which is part of the CIT division, 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 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,” Antonio Minchella, senior managing director – medical office at Kayne Anderson, said. “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,” William Douglass, managing director and group head for CIT Healthcare Finance, said. “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,” Steven Reedy, a managing director in healthcare finance, said.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.