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Sunday, 03 December 2000

First Union Leads $55 Mln Investment for Healthcare Realty Firm

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December 4, 2000

CHARLOTTE – First Union Capital Partners, a unit of First Union Corp., led a group of investors that provided $55 million of equity to Medcap Properties LLC, an owner of medical office buildings.

First Union provided $23.5 million of the equity while other investors, including CapitalSource LLC, provided the remainder.

Medcap, based in Nashville, Tenn., was formed last July to buy 116 medical office properties from HCA-The Healthcare Co. (NYSE:HCA) HCA retains an interest in Medcap, which will buy, develop and manage medical office properties that are near acute-care facilities.



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Additional Info

  • Syndicate to Realpoint: No
  • Sector: Office
  • Subject: Property Management (MGMT)
  • Company: First Washington Realty Trust
  • Valuation: Between $50 million and $100 million
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