First Citizens Bank’s healthcare finance business served as joint lead arranger on a $63.2 million facility to support IRA Capital’s acquisition of three healthcare properties in Texas. The portfolio includes Houston Physicians’ Hospital, a full-service specialty surgical facility located in Webster, TX, along with two outpatient aquatic therapy centers.
“We are delighted to add these strategic assets to our portfolio, anchored by the largest health system in Houston,” Amer Kasm, co-founder and managing partner at IRA Capital, said. “The facilities are well-positioned to meet rising healthcare demand across the Houston market, and we’re grateful for First Citizen’s support in helping us efficiently execute this acquisition.”
“IRA Capital’s approach to healthcare investing aligns with our focus on supporting sponsors who are committed to delivering long-term value in the medical real estate sector,” Steve Reedy, a managing director and head of medical office banking with First Citizens Bank, said. “We’re proud to be a financing partner on this strategic acquisition.”
“Healthcare delivery continues to evolve toward integrated, patient-centered models of care,” William Douglass, managing director and group head of the healthcare finance business at First Citizens Bank, said. “We’re pleased to support IRA Capital’s investment in high-quality, specialized facilities that serve growing communities across the Houston area.”
