First Citizens Provides $29MM to Onicx Group to Refinance Medical Office Buildings

First Citizens Bank’s healthcare finance business, part of the CIT division, provided $29 million to Onicx Group to refinance two medical office buildings located on the campuses of Florida Trinity Hospital and Poinciana Hospital.

“These two medical office buildings are located in attractive settings proximate to other important medical facilities that satisfy the healthcare needs of these communities,” Dhvanit Patel, president and CEO of Onicx Group, said. “We greatly appreciate the expertise and agility of First Citizens Bank in supporting our financing and banking needs as we advance our growth objectives.”

“Onicx Group is well-recognized for its real estate expertise and has continued to demonstrate skill in managing its portfolio of top-tier medical properties such as these,” William Douglass, group head and managing director of the healthcare finance business at First Citizens Bank, said.

“We are pleased to provide the debt capital required for the recapitalization of these valuable medical office buildings for Onicx Group that support the clinical medical needs of patients across central Florida,” Steve Reedy, a managing director for First Citizens Bank’s healthcare finance business, said.

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