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First Citizens Bank Refinances Amavida Living Community In Fort Myers For $30M

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FINANCED
$30,000,000

Florida

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Financed 05/17/2023
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FINANCED

First Citizens Bank Refinances Amavida Living Community In Fort Myers For $30M

7820 Fanning Ct Fort Myers, FL 33908, USA

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Other
Financed 05/17/2023
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Summary

FLORIDA
Asset Type:Other
Transaction Type:Loan

The Amavida Living Community in Fort Myers, Florida has been refinanced with a $30 million loan provided by First Citizens Bank's Healthcare Finance group, part of CIT division. The community, owned by a Quadrum Global affiliate, consists of 387 senior housing units.

Summary of transaction details

  • Property Type: Senior Housing
  • Transaction Amount: $30,000,000
  • Lender: First Citizens Bank - Healthcare Finance - William Douglass & Michael Coiley
  • Landlord: Quadrum Global - Jared White

This refinancing deal highlights the tailored financing solutions offered by CIT Healthcare for the healthcare industry.

Players

First Citizens Bank
First Citizens Bank
LENDER
Quadrum Global
Quadrum Global
LANDLORD

Details

FINANCED
IMAGE: William Douglass DATE: 05/17/2023 ADDRESS: 7820 Fanning Court MARKET: Fort Myers ASSET TYPE: Senior Housing ~ UNITS: 387 LENDER: First Citizens Bank (@FCBankal)- Healthcare Finance - William Douglass & Michael Coiley LANDLORD: Quadrum Global - Jared White LOAN AMOUNT: $30,000,000 LOAN TYPE: Refinance NOTE: First Citizens Bank's Healthcare Finance group, part of CIT division, has refinanced the Amavida Living Community in Fort Myers, Florida with a $30 million loan. The community, owned by a Quadrum Global affiliate, features 387 senior housing units and the transaction highlights CIT Healthcare's tailored financing solutions for the healthcare industry.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00