First Citizens Bank Provides $58.4 Million in Financing for Anchor Health Properties’ Inpatient Rehabilitation Facility in Miami, Florida
First Citizens Bank Provides $58.4 Million in Financing for New Rehabilitation Facility in Miami
JACKSONVILLE, Fla., April 23, 2024 /PRNewswire/ — First Citizens Bank has announced that its Healthcare Finance business has provided $58.4 million in financing to Anchor Health Properties for the construction of a new 92-bed inpatient rehabilitation facility in Miami, Florida.
The 96,000-rentable-square-foot facility, along with an attached parking garage, will be leased to a joint venture between Baptist Health South Florida and Lifepoint Health. This facility will focus on acute rehabilitation of conditions resulting from stroke, brain and spinal cord injuries, amputations, neurological disorders, and orthopedic disorders.
Baptist Health South Florida, the largest healthcare organization in South Florida, will provide hospital, outpatient, and specialty care at this new facility. Lifepoint Health, a community-based healthcare network with over 300 locations across the country, will also be involved in the operation.
“We’re pleased to provide this financing to Anchor Health Properties to support the critical rehabilitation services that Baptist Health South Florida and Lifepoint Health will provide to patients in the rapidly growing Miami area,” said William Douglass, group head for First Citizens Healthcare Finance.
Steve Reedy, managing director and head of medical office banking at First Citizens, added, “Anchor Health Properties has a strong reputation as a leading healthcare real estate company, and we’re pleased to further develop our relationship with them by providing financing for this innovative new facility.”
First Citizens Healthcare Finance offers comprehensive financing and banking solutions to middle market healthcare companies across the U.S., tailored to meet their growth capital needs.
About First Citizens Bank:
First Citizens Bank, headquartered in Raleigh, N.C., helps personal, business, commercial, and wealth clients build financial strength that lasts. With a network of more than 500 branches and offices in 30 states, First Citizens offers a wide range of banking services and has more than $200 billion in assets.
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SOURCE First Citizens Bank