Skilled Nursing News September 13, 2024
First Citizens Bank’s Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois.
The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states, First Citizens said in a press release.
The eight facilities covered by this transaction represent more than 1,500 licensed beds, which typically offer care to individuals who need rehabilitation from injury or wound care, or who suffer from serious or persistent health issues requiring 24-hour medical attention.
“We are pleased to expand our financing for skilled nursing facilities, which are a critical component of the post-acute spectrum of care,”...
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