First Citizens Bank Provides $37 Million to Refinance Birmingham, AL On Campus Medical Office Building

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Feb 07, 2024, 09:00 ET

JACKSONVILLE, Fla., Feb. 7, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $37 million to Rethink Healthcare Real Estate to refinance Grandview Physicians Plaza I, a medical office building located in Birmingham, Alabama.

The medical office building spans over 200,000 rentable square feet and is located on the Grandview Medical Center campus. The property is conveniently located near the border of Jefferson and Shelby counties on US 280.

Tenants include the hospital and practices specializing in endoscopy, imaging, orthopedics, women's health services, internal medicine, physical therapy, and a range of other services.

"Grandview Physicians Plaza I is an important medical facility that is critical to supporting the activities of the attached hospital," said Jonathan Winer, President & CIO of Rethink Healthcare Real Estate. "We appreciate First Citizens' industry knowledge and their efficient execution of the financing."

"We are pleased to work with Rethink Healthcare again, a valued client of First Citizens, in arranging financing for this property," said William Douglass, Managing Director and Group Head for First Citizens Healthcare Finance.

"It is always a pleasure to work with Rethink Healthcare Real Estate, and to continue to support the relationship through the refinancing of this best in class, on campus, medical office building," said Steve Reedy, Managing Director and Head of Medical Office Banking at First Citizens.

First Citizens Healthcare Finance provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. Using a client-focused and industry-centric model, Healthcare Finance tailors its products and services to help clients meet their needs for growth capital.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. Discover more at firstcitizens.com.

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SOURCE First Citizens Bank