First Citizens Bank, through its healthcare finance business, served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois. The eight facilities covered by this transaction represent more than 1,500 licensed beds.
“We are pleased to expand our financing for skilled nursing facilities, which are a critical component of the post-acute spectrum of care,” William Douglas, head of First Citizens Healthcare Finance, said.
“We appreciated the opportunity to leverage our deep sector knowledge to support our client with the financing they sought to advance their business,” Michael Coiley, a managing director on the healthcare finance team, said.
