First Citizens Bank’s healthcare finance group, part of the CIT division, provided $20.5 million toward the acquisition of the Forsyth Physicians Center. The borrower is a joint venture led by Anchor Health Properties.
Forsyth Physicians Center is a 92,000 rentable square foot, Class A, multi-tenant medical office building and ambulatory surgery center located within the Cumming, GA, submarket of the Atlanta metropolitan area. Resurgens Orthopaedics serves as the anchor tenant. The property is located next to the Northside Hospital Forsyth, a women’s health center and provider of maternity services.
“We are pleased to acquire this top-tier medical office building in an attractive location near other major medical facilities as we continue to build our portfolio,” James Schmid, chief investment officer of Anchor Health Properties, said. “We appreciated the industry knowledge and expertise of First Citizens Bank’s healthcare finance team in arranging this financing.”
“Anchor Health Properties is well known and well regarded across the industry for acquiring and operating outstanding medical office properties,” William Douglass, managing director and group head for healthcare finance at First Citizens, said.
“Our long experience in the nationwide medical office building market enables us to provide Anchor Health Properties and other clients with the tailored financing they need to acquire desirable properties and grow their business,” Steven Reedy, a managing director in healthcare finance at First Citizens, said.
