First Citizens Bank’s healthcare finance division has provided more than $30 million in financing to Stockdale Capital Partners, a private equity real estate investment firm, for its acquisition of medical outpatient buildings in California and Texas.
The properties included:
A medical outpatient building at 75 Rowland Way, Novato, California, which includes more than 81,000 square feet of rentable space.
Frisco Medical Village, a medical outpatient building with nearly 38,000 square feet of rentable space, located at 9990 Dallas Parkway, Frisco, Texas, in the Dallas-Fort Worth region.
“Stockdale Capital Partners invests in premium healthcare facilities in key markets that serve the evolving needs of their communities,” Andrew Saba, managing director of healthcare at Stockdale Capital Partners, said. “We appreciated the expertise and agility of the First Citizens team in arranging the financing for these outstanding properties.”
“Stockdale Capital Partners has a solid reputation for identifying high-value healthcare facilities in attractive markets,” William Douglass, group head of healthcare finance at First Citizens Bank, said. “First Citizens is pleased to support financings for their latest acquisitions.”
“This transaction underscores our confidence in the value of these properties and in Stockdale Capital Partners’ expertise in acquiring and managing high-quality healthcare facilities,” Steve Reedy, a managing director and head of medical office banking in healthcare finance for First Citizens, said.
