NEW YORK — August 18, 2025 — First Citizens Bank today announced that its Healthcare Finance business served as joint lead arranger on a $63.2 million facility to support IRA Capital’s acquisition of three high-performing healthcare properties in Texas.
The portfolio includes Houston Physicians’ Hospital, a full-service specialty surgical facility located in Webster, Texas, along with two outpatient aquatic therapy centers. The properties are 100% leased to a joint venture comprising Memorial Hermann Health System, United Surgical Partners International, and local physician partners – offering a combination of inpatient and outpatient musculoskeletal and rehabilitation services.
Headquartered in Irvine, California, IRA Capital is a national real estate investment firm with a strong track record in healthcare. The firm’s portfolio spans medical outpatient buildings, ambulatory surgery centers, and specialty hospitals in major U.S. markets.
“We are delighted to add these strategic assets to our portfolio, anchored by the largest health system in Houston,” said Amer Kasm, co-founder and Managing Partner at IRA Capital. “The facilities are well-positioned to meet rising healthcare demand across the Houston market, and we’re grateful for First Citizen’s support in helping us efficiently execute this acquisition.”
“IRA Capital’s approach to healthcare investing aligns with our focus on supporting sponsors who are committed to delivering long-term value in the medical real estate sector,” said Steve Reedy, a managing director and head of Medical Office Banking with First Citizens Bank. “We’re proud to be a financing partner on this strategic acquisition.”
“Healthcare delivery continues to evolve toward integrated, patient-centered models of care,” said William Douglass, managing director and group head of the Healthcare Finance business at First Citizens Bank. “We’re pleased to support IRA Capital’s investment in high-quality, specialized facilities that serve growing communities across the Houston area.”
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 IRA Capital
Founded in 2010, IRA Capital is a Southern California-based private equity firm specializing in commercial real estate with a focus on the healthcare sector. The firm has acquired approximately 12 million square feet across 28 states, representing approximately $4 billion in total capitalization. IRA partners with institutional investors, pension and sovereign funds, and family offices to acquire and manage high-quality healthcare assets. To learn more, visit www.iracapital.com.
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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