#United States #Fairfax #First Citizens Bank #Healthcare Financing #Stockdale Capital

First Citizens Bank Enhances Healthcare Sector with $38 Million Financing

In a strategic move aimed at improving healthcare access in Virginia, First Citizens Bank has stepped up to provide $38 million in first-mortgage debt to Stockdale Capital Partners. This financing is dedicated to the acquisition of the Willow Oaks Corporate Center, a sprawling 401,000-square-foot medical outpatient campus located in Fairfax, Virginia. This facility is not just an expansion of Stockdale's portfolio but also a significant enhancement of healthcare infrastructure in the region, bolstering the presence of quality medical services for the community.

A Modern Medical Facility

Willow Oaks, situated at 8260 and 8280 Willow Oaks Corporate Drive, features two impressive eight-story buildings. It is strategically anchored by Inova Health System, one of the most prominent healthcare providers in Northern Virginia and the Washington, D.C. metro area. The facility is designed with advanced technology and rich amenities, creating an environment that is intended to attract and support a diverse range of healthcare providers. The ultimate goal is to increase accessibility to high-quality medical care for residents in the vicinity.

Stockdale's Vision

Andrew Saba, the Managing Director of Healthcare at Stockdale Capital Partners, expressed enthusiasm about this acquisition, stating, "With this financing, we were able to seize an opportunity to add a best-in-class asset to our growing medical office portfolio. We value First Citizens Healthcare Finance's support of our vision to own and manage premier medical outpatient facilities for the long term." This reflects Stockdale's commitment to not only expanding their real estate footprint but also contributing positively to the healthcare ecosystem in their operational markets.

First Citizens Bank’s Role

First Citizens Bank's Healthcare Finance division has been pivotal in this transaction, highlighting their focus on tailored banking solutions that meet the unique demands of healthcare entities across the United States. Steven Reedy, the managing director and head of Medical Office Banking at First Citizens Bank, stated, "We're proud to support Stockdale Capital Partners in acquiring this premier medical facility. Our team provides capital solutions and expertise tailored to help healthcare owners and operators. We look forward to working with Stockdale and supporting its continued growth in the healthcare industry." This partnership underscores First Citizens Bank's dedication to facilitating growth and innovation within the healthcare sector.

A Commitment to Growth

Both companies share a vision that transcends mere transactions; they are committed to fostering a healthcare landscape that is equipped with world-class facilities and services. First Citizens Bank, headquartered in Raleigh, North Carolina, has a long-standing tradition of providing financial strength and stability, having been a trusted banking partner for both personal and business clients for generations. Their comprehensive array of banking services allows them to support various sectors, including healthcare, by offering essential capital and expertise.

Conclusion

The acquisition of Willow Oaks is a noteworthy step toward enhancing medical care in a rapidly growing area. It not only signifies the confidence that First Citizens Bank has in Stockdale Capital Partners but also represents a larger commitment to bettering healthcare access for countless individuals in Northern Virginia. This collaborative effort sets a benchmark for future healthcare financing initiatives across the nation, demonstrating what can be achieved when experienced financial institutions support innovative healthcare providers.