A significant milestone in the healthcare real estate sector has been achieved as First Citizens Bank's Healthcare Finance division successfully arranged secured mortgage financing for Stockdale Capital Partners. This funding enables the acquisition of the West Plano Medical Village, a top-tier outpatient medical building located in Plano, Texas. The facility spans nearly 50,000 rentable square feet and is home to a variety of specialized healthcare providers, ensuring comprehensive medical services for the surrounding community.
The West Plano Medical Village, constructed in 2022, plays a crucial role in serving the growing population of Collin County and the broader Dallas-Fort Worth region. According to Andrew Saba, Managing Director of Healthcare at Stockdale Capital Partners, this acquisition represents an opportunity to enhance access to advanced healthcare within the area. Saba expressed gratitude toward First Citizens Bank’s Healthcare Finance team, highlighting their instrumental role in aligning with Stockdale’s vision of owning state-of-the-art medical facilities that prioritize patient care.
William Douglass, group head and managing director of Healthcare Finance at First Citizens Bank, echoed these sentiments by emphasizing the bank's commitment to supporting such acquisitions. By providing customized financial solutions, the bank aims to empower healthcare providers to extend their reach and positively impact local communities. Additionally, Steve Reedy, head of medical office banking at First Citizens Bank, underscored the pleasure of collaborating with Stockdale Capital Partners and looks forward to nurturing this valuable banking relationship further.
In today’s rapidly evolving healthcare landscape, partnerships between financial institutions and healthcare developers are pivotal in advancing accessible and high-quality medical care. Through innovative financing strategies and shared goals, organizations like First Citizens Bank and Stockdale Capital Partners demonstrate how collaboration can drive progress and contribute to healthier communities nationwide.