Webster Bank provided a five-year, permanent loan to KIRCO in connection with the refinancing of the Henry Ford Macomb Medical Pavilion which is a 100% leased, class-A, state-of-the-art medical office building located in Macomb County, Michigan.
   
“KIRCO is an award-winning commercial real estate development, construction (KIRCO MANIX) and property management organization across many real estate sub sectors including Healthcare. Webster Bank is pleased to be its partner in supporting the refinance of this strategically important healthcare facility serving the Macomb community and surrounding area,” said Steven Dowe, Senior Managing Director and Head of Healthcare Middle Market Banking at Webster Bank.

“This transaction is another example of Webster’s partnership with leading developers and investors on projects that promote greater access to care and value-based care arrangements.” said Tony Sidera, Director, Relationship Manager, Healthcare at Webster Bank.

“We are pleased to partner with the healthcare team at Webster who seamlessly executed a competitive permanent debt solution in a challenging credit market. This pivotal refinance was not only critical for The Henry Ford Macomb Medical Pavilion’s success, but also represents the foundation of a great relationship between KIRCO and Webster Bank,” said Dean Kiriluk, Chief Investment Officer at KIRCO.

Webster Healthcare has a long history in providing capital solutions and commercial banking services to providers and investors across the healthcare sector.  Webster Healthcare’s portfolio includes a broad array of loan commitments to medical facilities across the senior living care continuum, hospital, post-acute care providers, ambulatory centers, behavioral health providers, and primary and specialty physician groups.