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Chicago & Midwest  + Midwest  + Finance  | 

First Citizens Bank Provides $44M Financing for Trio of MOB Properties

First Citizens Bank said Thursday that its Healthcare Finance group, part of the CIT division, has provided $44.2 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties.

The portfolio consists of three medical office building properties located in Wisconsin and Illinois with combined rentable space of more than 266,000 square feet. The properties include the ProHealth Medical Group urgent care center in Brookfield, WI; the Silver Cross Health Center urgent care facility in Mokena, IL; and the Moreland Medical Center in Waukesha, WI.

“Kayne Anderson Real Estate and Remedy Medical Properties have a growing reputation across the industry for identifying and acquiring superb medical office properties,” said William Douglass, managing director and group head for CIT Healthcare Finance. “We were pleased to support their ongoing efforts to advance their business objectives.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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