First Citizens Bank Provides $17.5M Financing For Norvin's Acquisition Of PAM Health Warm Springs Rehabilitation Hospital

This Hospital property located in TX received a loan of $17,500,000 20 days ago.

The acquisition of PAM Health Warm Springs Rehabilitation Hospital in Northeast San Antonio has been financed with a loan of $17.5 million provided by First Citizens Bank's Healthcare Finance, according to records. The 40-bed hospital, with a total area of 38,667 square feet, is part of Norvin Healthcare Properties' expanding healthcare real estate portfolio. The property, located at 11407 Wayland Way, was built in 2021.

Summary of transaction details

Property Type: Hospital
Transaction Amount: $17,500,000
Market: San Antonio
Number of Beds: 40
Square Footage: 38,667

First Citizens Bank, represented by William Douglass and Steven Reedy, served as the lender for the acquisition loan. Norvin Healthcare Properties, led by Norman Livingston, acted as the landlord in the transaction.

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Location
11407 Wayland Way
Loan Value
$17,500,000
Asset Type
Hospital
Parties
1 Lender

First Citizens Bank

Lender

Deals16

Volume$ 4,525,296,000

Social

Deal Summary

LOAN IMAGE: Norman Livingston, William Douglass & Steven Reedy DATE: 11/15/2023 ADDRESS: 11407 Wayland Way MARKET: San Antonio ASSET TYPE: Hospital ~ BEDS: 40 ~ SF: 38,667 LENDER: First Citizens Bank - William Douglass & Steven Reedy LANDLORD: Norvin Healthcare Properties - Norman Livingston LOAN AMOUNT: $17,500,000 LOAN TYPE: Acquisition Loan NOTE: First Citizens Bank's Healthcare Finance has provided $17.5 million in financing to Norvin Healthcare Properties for the acquisition of PAM Health Warm Springs Rehabilitation Hospital in Northeast San Antonio. The 40-bed facility, built in 2021, enhances Norvin Healthcare Properties' growing healthcare real estate portfolio.