First Citizens Healthcare Finance Provides $53.5M Refinance Loan For Grandview Physicians Plaza II In Birmingham
3680 Grandview Parkway
$53,500,000
$382/SF
Building Size
140,000 SF
Asset Type
Hospital
Closing
Apr 7, 2025
About this deal
AI
The transaction involves a medical office facility located at 3680 Grandview Parkway in Birmingham, AL, comprising 140,000 square feet. The property operates as a hospital and is significant within the local healthcare market.
Summary of transaction details:
- Property Type: Hospital
- Transaction Amount: $53,500,000
- Loan Type: Refinance
- Lender: First Citizens Healthcare Finance
- Landlord: Affiliate of Rethink Healthcare Real Estate
- Loan Date: 04/07/2025
This refinancing deal was facilitated by First Citizens Healthcare Finance, which provided the loan to refinance Grandview Physicians Plaza II. The involvement of an affiliate of Rethink Healthcare Real Estate as the landlord plays a crucial role in the transaction, ensuring alignment with healthcare real estate interests.
On the Map
$53,500,000
$382/SF
Hospital
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93