First Citizens Provides $30MM Financing for Amavida Living Community in Florida

First Citizens Bank’s healthcare finance group, part of the CIT division, provided $30 million to refinance the Amavida Living Community in Fort Myers, FL. Amavida is a 387-unit senior housing community consisting of 251 independent-living units, 113 assisted-living units and 23 memory care units. The community is owned by an affiliate of Quadrum Global.

“Amavida is a beautiful facility with a bright future,” Jared White, senior vice president of Quadrum Global, said. “We couldn’t be more pleased with how the CIT Healthcare team executed this transaction. They were diligent, professional and got it done. We look forward to working with them again.”

“We were pleased to assist Quadrum with recapitalization financing for Amavida, one of the premier senior living communities in the greater Fort Myers area,” William Douglass, managing director and group head for CIT Healthcare Finance, said.

“It was a pleasure to work with the Quadrum team to get this done. They put their faith and trust in us that we would execute on their behalf ” Michael Coiley, a managing director at CIT Healthcare Finance, said.

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