First Citizens Bank has announced that its healthcare finance business served as lead arranger for a $260 million loan to refinance a portfolio of 12 skilled nursing facilities in Maryland.
The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities with investments in more than 24 states.
These specific licensed facilities represent more than 1,500 skilled nursing beds, which typically offer care to individuals who need rehabilitation from injury, wound care or who suffer from serious or persistent health issues requiring 24-hour medical attention.
