NEW YORK — August 7, 2025 — First Citizens Bank today announced that its Healthcare Finance business served as sole lender on an $18.59 million financing facility for a joint venture between Cypress West Partners and TPG Angelo Gordon. The financing supports the acquisition and recapitalization of a two-property medical office portfolio located in Tucson, Arizona, and Las Vegas, Nevada.
The portfolio includes La Cholla Medical, a well-established medical office facility comprised of two two-story buildings in Tucson, and MacFarlane Medical, a Las Vegas multi-tenant medical outpatient building that houses a range of healthcare specialties. Both properties are strategically located in growing markets with a strong presence of regional medical providers.
“We appreciate the expertise of the First Citizens Bank Healthcare Finance team and their thoughtful approach to arranging this financing,” said Chris Cumella, CEO of Cypress West. “Their industry knowledge and ability to work collaboratively moved this transaction forward smoothly.”
“We’re pleased to support Cypress West and TPG Angelo Gordon on this acquisition,” said William Douglass, managing director and group head for the Healthcare Finance group. “We value the opportunity to support experienced investors in high-quality healthcare assets that contribute to the delivery of care in their communities like La Cholla Medical and MacFarlane Medical.”
“Healthcare real estate continues to be a vital part of the broader economy,” said Steve Reedy, managing director and head of medical office banking in the Healthcare Finance business. “We’re pleased to contribute to the growth and stability of this segment and the opportunity to finance facilities that meet the evolving needs of providers and patients.
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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