Bank provides $27.8M in Kansas medical office building portfolio acquisition

CIT, a division of First Citizens Bank, provided $27.8 million for the joint venture acquisition of a medical office building portfolio with properties in Wichita, Kan.

The portfolio was acquired by Kayne Anderson Real Estate and Remedy Medical Properties, according to a Dec. 14 news release from CIT. The full value of the transaction was not revealed.

The portfolio includes Kansas Spine & Specialty Hospital and Abay Medical Plaza. Abay Medical Plaza is leased to four tenants, including Abay Neuroscience Center and the Pain Center at Kansas Spine & Specialty Hospital.

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