First Citizens Bank provides $58.4m for construction of medical inpatient rehabilitation facility in Miami

First Citizens Bank announced that its Healthcare Finance business provided $58.4 million in financing to Anchor Health Properties for the construction of a 92-bed inpatient rehabilitation facility in Miami.

The 96,000-rentable-square-foot facility with an attached parking garage will be leased to a joint venture between Baptist Health South Florida and Lifepoint Health. The facility will focus on acute rehabilitation of conditions resulting from stroke, brain and spinal cord, amputation, neurological and orthopedic disorders.

Baptist Health South Florida, the largest healthcare organization in South Florida, provides hospital, outpatient and specialty care across 10 hospitals, including the adjacent Baptist Health South Miami Hospital, and more than 200 outpatient and physician locations. Lifepoint Health is a diversified, community-based healthcare network owned by Apollo Global Management with more than 300 locations across the country.