NEW YORK, N.Y. — June 24, 2025 — First Citizens Bank today announced that its Healthcare Finance business arranged $270 million in financing to support the acquisition of 30 healthcare facilities across Idaho, Oregon, Washington, Montana and Arizona.
The properties have historically been and continue to be operated by Cascadia Healthcare and its affiliate Olympus Retirement Living. They include 15 freestanding skilled nursing facilities and seven campuses that consist of a combination of skilled nursing, independent living and assisted living facilities. The buyer is a real estate investment group specializing in the post-acute sector.
“We are proud to provide the financing for this important transaction involving numerous post-acute care and seniors housing facilities,” said William Douglass, group head and managing director of Healthcare Finance at First Citizens Bank.
“Our team is committed to leveraging its deep industry knowledge and expertise to provide flexible and tailored financing solutions that help healthcare companies grow and better serve communities,” he added.
“It was a pleasure to support our client with this financing and we look forward to further opportunities to serve their financial needs,” said Mike Coiley, a managing director in Healthcare Finance.
First Citizens Healthcare Finance provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. Using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.
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