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First Citizens Healthcare Finance Provides $53.5M Refinance Loan For Grandview Physicians Plaza II In Birmingham

Property Image
FINANCED
$53,500,000

Alabama

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Hospital140,000 SF
Financed 04/07/2025
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Property Image
FINANCED

First Citizens Healthcare Finance Provides $53.5M Refinance Loan For Grandview Physicians Plaza II In Birmingham

3680 Grandview Parkway

See Similar Deals
Hospital140,000 SF
Financed 04/07/2025
the dealplayerscompscontact
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Summary

ALABAMA
Asset Type:Hospital
Price Per Square Foot:$382
Total Square Footage:140,000 SF
Transaction Type:Loan

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.

Players

First Citizens Bank
First Citizens Bank
LENDER

Details

FINANCED
IMAGE: 04/07/2025 ADDRESS: 3680 Grandview Parkway MARKET: Birmingham, AL ASSET TYPE: Hospital ~ SF: 140,000 LENDER: First Citizens Healthcare Finance LANDLORD: Affiliate of Rethink Healthcare Real Estate LOAN AMOUNT: $53,500,000 LOAN TYPE: Refinance NOTE: First Citizens Healthcare Finance provided a $53.5M loan to refinance Grandview Physicians Plaza II, a 140K sq. ft. medical office facility in Birmingham.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$53,500,000.00

Monthly NOI$356,666.67
Monthly Debt Service$338,156.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00