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.

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," said William Douglas, head of First Citizens Healthcare Finance.

"We appreciated the opportunity to leverage our deep sector knowledge to support our client with the financing they sought to advance their business," Michael Coiley, a managing director on the Healthcare Finance team.