CIT’s healthcare finance business served as sole lead arranger on $16.1 million in financing for the acquisition of a portfolio of dialysis centers by Cypress West Partners.
Cypress West Partners acquired the portfolio of six newly constructed built-to-suit dialysis centers in Meridian, MS; McComb, MS; Jackson, MS; Lake Charles, LA; Sacramento, CA and Bellmead, TX. The facilities are occupied by Fresenius Medical Care, a dialysis provider.
“In seeking to finance the acquisition of this very attractive portfolio of dialysis centers, we looked to CIT because of their proven expertise in financing medical office buildings and their strong reputation for timely execution,” Christopher J. Cumella, CEO of Cypress West Partners, said. “We have closed on the financing for seven medical office acquisitions with CIT over the past two years. CIT is a highly valued and trusted provider of first mortgage capital.”
“We worked closely with Cypress West to understand their requirements and provide financing that satisfied their business needs,” William Douglass, managing director and group head for CIT’s healthcare finance business, said. “It was a pleasure to work with the Cypress West team again and we look forward to continuing to expand our banking relationship through future opportunities.”
CIT’s healthcare finance unit, part of the commercial finance division, provides financing and banking solutions to middle market healthcare companies across the U.S.
