NEW YORK, Dec. 3, 2018 /PRNewswire/ -- CIT Group Inc.
(NYSE: CIT) today announced that its Healthcare Finance business,
part of CIT's Commercial Finance division, provided $28.7 million in financing for the acquisition of
medical office buildings in Brockton and Haverhill, Massachusetts.
The Brockton building houses
the Greene Cancer Center, which is affiliated with Signature
Healthcare Brockton Hospital. The building is leased to the
hospital, which is launching a new oncology program on the campus,
along with orthopedics and other specialist services.
The Haverhill building, known
as the Haverhill Medical Center, is a recently constructed medical
office building leased to Anna Jaques Hospital in Newburyport, Massachusetts.
Both buildings were acquired by Chestnut Healthcare Partners LP,
a discretionary investment fund co-managed by Anchor Health
Properties and Chestnut Real Estate.
"CIT's healthcare industry expertise made them a natural choice
as we sought financing for these important acquisitions," said
James Schmid of Anchor Health
Properties. "We're pleased with the outcome and the smooth closing
process."
"We worked closely with Anchor Health Properties and Chestnut
Real Estate to understand their needs and create a financing
package that supported their goals for these transactions," said
William Douglass, managing director
and group head of CIT's Healthcare Finance business.
CIT's Healthcare Finance unit provides comprehensive financing
and banking solutions to middle market healthcare companies across
the U.S. By 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 CIT
CIT is a leading national bank focused on empowering businesses
and personal savers with the financial agility to navigate their
goals. CIT Group Inc. (NYSE: CIT) is a financial holding company
with over a century of experience, approximately $50 billion in assets as of Sept. 30, 2018, and operates a principal bank
subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The
company's commercial banking segment includes commercial financing,
real estate financing, equipment financing, factoring and railcar
financing. CIT's consumer banking segment includes its national
online bank, CIT Bank, and a Southern
California branch bank, OneWest Bank. Discover more at
cit.com/about.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare
real estate development, management, leasing, and investment firm
serving investors and health systems. Anchor takes a strategic
approach to navigating the extremely competitive healthcare
marketplace, considering multiple angles, such as retail drivers,
customer experience, branding and efficiency of the project. We
develop and manage projects across the
United States that respond to the new landscape of employed
physicians, team-based care, the need to optimize assets and reduce
duplication, and the integration of care and
technology. Anchor manages and leases over four million square
feet of medical office space, inclusive of numerous projects under
construction. Anchor maintains twelve offices nationally and
features nearly 60 professionals in its ranks. Over the past
five years, Anchor principals have acquired and/or developed over
$3 billion of medical real estate
across the country. Healthcare today calls not only for new and
more efficient ways of delivering outpatient services, but also a
different kind of healthcare development and management
company. For more information, please visit:
www.anchorhealthproperties.com.
CIT MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.