NEW YORK, Jan. 27, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Healthcare
Finance business served as sole lead arranger of senior debt
financing aggregating $48 million for
the acquisition of a portfolio of medical office buildings.
The borrower is a joint venture between Kayne Anderson Real
Estate and Remedy Medical Properties. The portfolio properties are
located in four states and collectively total more than 189,000
square feet. They include:
- The Bon Secours Medical Office Building in Chesapeake, Virginia.
- The Locust Grove Medical Center in Locust Grove, Georgia.
- The Spectrum Medical Office Building in Gilbert, Arizona.
- The Arizona Spine and Joint Medical Office Building in
Mesa, Arizona.
- The Plano Medical Office Building in Plano, Texas.
"These medical office buildings are modern facilities in
attractive locations, easily accessed by healthcare patients and
providers," said Peter Westmeyer,
CEO, Remedy Medical Properties. "We are pleased to add these
properties to our portfolio and appreciate CIT's agility and
expertise in arranging financing."
"Kayne Anderson Real Estate and Remedy Medical Properties are
well-known as leading investors in medical office buildings and
other real estate," said William
Douglass, managing director and group head for CIT's
Healthcare Finance business. "We are excited to have expanded
our relationship with the Kayne Anderson/Remedy joint venture
through providing this very important acquisition debt
financing."
CIT's Healthcare Finance unit, part of the Commercial
Finance division, provides comprehensive financing and banking
solutions to middle market healthcare companies across the U.S. By
using a client-focused and industry-centric model, the Healthcare
Finance team 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 and operates a principal bank
subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The
company's commercial banking segment includes commercial financing,
community association banking, middle market banking, equipment and
vendor financing, factoring, railcar financing, treasury and
payments services, and capital markets and asset management. CIT's
consumer banking segment includes a national direct bank and
regional branch network. Discover more at cit.com/about.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate ("KA Real Estate") is a leading real
estate private equity investor in medical office, seniors housing,
off-campus student housing, and self storage. KA Real Estate
manages over $10 billion of real estate AUM (as of
11/30/20) across opportunistic equity, core equity and real estate
debt. KA Real Estate is part of Kayne Anderson Capital Advisors,
L.P., a $31 billion alternative investment management
firm (AUM as of 11/30/20) with more than 36 years of successful
experience in the real estate, infrastructure, credit, and growth
capital sectors. For more information visit
https://kaynecapital.com/real-estate-private-equity/
About Remedy Medical Properties
Remedy Medical Properties is an independent, full-service
healthcare real estate company providing acquisition, development,
leasing, management and strategy consulting services across
the United States. As the largest
private owner of healthcare facilities in the country, with 22.7
million square feet spanning 41 states, the company creates
customized real estate solutions for some of the most discerning
healthcare providers in the country. Remedy works with hospitals,
health systems, and physician groups to drive down real estate
costs, increase tenant satisfaction, improve the patient
experience, and expand into new markets. Headquartered in
Chicago, the company has 22
offices throughout the country. For more information visit
https://www.remedymed.com.
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.