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

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.