First Citizens Bank announced that its healthcare finance business completed two transactions totaling $99.3 million with joint ventures managed by Kayne Anderson Real Estate and Remedy Medical Properties.
One joint venture received $75 million in loan proceeds for the acquisition of a surgical hospital, Baylor Scott & White Medical Center, located in Frisco, Texas. The property is fully leased to Frisco Medical Center and includes 68 inpatient beds and 11 operating rooms.
Another joint venture received $24.3 million in loan proceeds for the refinancing of two medical office buildings in Mississippi. The properties are in Flowood, Miss., and Vicksburg, Miss. Both properties are 100 percent occupied by GI Associates & Endoscopy Center.
"These medical office buildings are modern facilities in attractive locations, easily accessed by healthcare patients and providers," said Antonio Minchella, senior managing director, medical office at Kayne Anderson.
