Press release
First Citizens Bank Provides $20.5 Million Acquisition Loan for Forsyth Physicians Center in Greater Atlanta
NEW YORK, July 26, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $20.5
About this update from First Citizens Bancshares, Inc.
[{"type":"text","content":"NEW YORK, July 26, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $20.5 million toward the acquisition of the Forsyth Physicians Center.\n\n \n \n \n \n \n \n\n \nThe borrower is a joint venture led by Anchor Health Properties. Forsyth Physicians Center is a 92,000 RSF, Class A, multi-tenant medical office building and ambulatory surgery center located within the Cumming, GA submarket of the Atlanta MSA. Resurgens Orthopaedics serves as the anchor tenant. The property is conveniently located adjacent to the Northside Hospital Forsyth, an acclaimed women's health center and national leader in maternity services.\n\"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,\" said James Schmid, Chief Investment Officer of Anchor Health Properties. \"We appreciated the industry knowledge and expertise of First Citizens Bank's Healthcare Finance team in arranging this financing.\"\n\"Anchor Health Properties is well known and well regarded across the industry for acquiring and operating outstanding medical office properties,\" said William Douglass, managing director and group head for Healthcare Finance.\n\"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,\" said Steven Reedy, a managing director in Healthcare Finance.\nHealthcare Finance, part of First Citizens' CIT division, provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. By using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for capital.\nAbout First Citizens BankFirst Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, 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 550 br...