First Citizens Bank Provides $38 Million to Stockdale Capital Partners

Financing will be used to purchase new medical outpatient facility , /PRNewswire/ -- First Citizens Bank announced today its Healthcare Finance business provided Stockdale Capital Partners with $38 million in first-mortgage debt to finance its acquisition of Willow Oaks Corporate Center, a 401,000-square-foot medical outpatient campus in Fairfax, VA. Comprising two eight-story buildings at 8260 and 8280 Willow Oaks Corporate Drive, Willow Oaks is anchored by Inova Health System, the leading healthcare provider in Northern Virigina and the Washington, DC metro. Stockdale plans to leverage the property's tech-forward, amenity-rich, creative environment to attract complementary healthcare providers and expand the community's access to high quality care. "With this financing, we were able to seize on an opportunity to add a best-in-class asset to our growing medical office portfolio," said Andrew Saba, Managing Director of Healthcare at Stockdale Capital Partners. "We value First Citizens Healthcare Finance's support of our vision to own and manage premier medical outpatient facilities for the long term." Headquartered in Los Angeles, Stockdale Capital Partners is a private equity real estate firm with 30+ years of experience and $2.8 billion in assets. It specializes in healthcare, office, retail, and mixed-use properties in key Western U.S. markets. "We're proud to support Stockdale Capital Partners in acquiring this premier medical facility," said Steven Reedy, managing director and head of Medical Office Banking at First Citizens Bank Healthcare Finance. "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." 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 BankFirst 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 branches and offices nationwide; 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. MEDIA RELATIONS: Name: Katie EllisEmail: [email protected] SOURCE First Citizens Bank

First Citizens Bank Provides $38 Million to Stockdale Capital Partners

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