First Citizens Bank’s Healthcare Finance division extended a $38 million first‑mortgage to Stockdale Capital Partners to finance the purchase of the Willow Oaks Corporate Center, a 401,000‑square‑foot medical outpatient campus in Fairfax, Virginia.
Stockdale acquired the campus on September 18, 2025, and the loan was announced on November 10, 2025. The campus houses more than 20 tenants, including Inova Health System as the anchor tenant, and consists of two eight‑story buildings adjacent to Inova’s headquarters and hospital complex.
The deal underscores First Citizens’ focus on specialized lending in healthcare, adding a stable‑cash‑flow asset to its portfolio and marking the bank’s first major financing in the East Coast region. The transaction expands the bank’s presence in Fairfax and positions it to capture additional healthcare clients in the area.
Andrew Saba, Managing Director of Healthcare at Stockdale, said the financing allowed the firm to secure a best‑in‑class asset and strengthen its outpatient portfolio. Steven Reedy, Managing Director of Medical Office Banking at First Citizens, highlighted the bank’s commitment to providing tailored capital solutions for healthcare operators.
The transaction follows First Citizens’ acquisition of Silicon Valley Bridge Bank in 2023, which broadened the bank’s asset base and reinforced its Healthcare Finance strategy. The $38 million loan is part of a series of sizable healthcare facility financings that the bank has pursued, including a $125 million facility for New Day Healthcare and a $260 million loan for skilled nursing facilities.
The loan adds a high‑quality asset to First Citizens’ balance sheet, supports the growth of medical outpatient infrastructure, and signals the bank’s continued investment in the healthcare real‑estate sector. The deal also positions Stockdale to leverage the campus’s proximity to Inova for future tenant expansion.
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