TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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January 9, 2025
Source: First Citizens Bank
NEW YORK — Jan. 9, 2025 — First Citizens Bank today announced that its Healthcare Finance division has provided more than $30 million in financing to Stockdale Capital Partners for its acquisition of medical outpatient buildings in California and Texas.
Headquartered in Los Angeles, Stockdale Capital Partners, is a leading private equity real estate investment firm with over 30 years of experience and $2.8 billion in assets under management. The firm specializes in healthcare, office, retail, and mixed-use properties, focusing on key markets in the Western U.S.
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,” said Andrew Saba, Managing Director of Healthcare at Stockdale Capital Partners. “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,” said William Douglass, Group Head of Healthcare Finance at First Citizens Bank. “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,” said Steve Reedy, a managing director and head of medical office banking in Healthcare Finance.
First Citizens Healthcare Finance provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. Using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.
