First Citizens Bank’s Healthcare Finance division of the CIT division has provided a $50.3 million loan to a joint venture led by Rethink Healthcare Real Estate for refinancing the Medical Pavilion at White Oak in Silver Spring, Maryland. The medical office building is located adjacent to Adventist White Oak Medical Center in an area known for healthcare and life science activities. Connected to the hospital, it houses a cancer center, primary care services and specialized care facilities.
William Douglass, leader of First Citizens Bank’s Healthcare Finance business expressed his delight on working with Rethink again due its proven track record of developing and managing high-quality medical office buildings as well as outpatient medical facilities in attractive markets.
First Citizens Bank provides $50M refi for Silver Spring Medical Pavilion
