NEW YORK, Feb. 4, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Healthcare
Finance business served as sole lead arranger on $16.1 million in financing for the acquisition of
a portfolio of dialysis centers.
Cypress West Partners acquired the portfolio of six newly
constructed built-to-suit dialysis centers in Meridian, McComb and Jackson,
Mississippi; Lake Charles,
Louisiana; Sacramento,
California; and Bellmead, Texas. The facilities are occupied by
Fresenius Medical Care, a leading dialysis provider.
"In seeking to finance the acquisition of this very attractive
portfolio of dialysis centers, we looked to CIT because of their
proven expertise in financing medical office buildings and their
strong reputation for timely execution," said Christopher J. Cumella, CEO, Cypress West
Partners. "We have closed on the financing for seven medical office
acquisitions with CIT over the past two years. CIT is a highly
valued and trusted provider of first mortgage capital."
"We worked closely with Cypress West to understand their
requirements and provide financing that satisfied their business
needs," said William Douglass,
managing director and group head for CIT's Healthcare
Finance business. "It was a pleasure to work with the Cypress
West team again and we look forward to continuing to expand our
banking relationship through future opportunities."
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.
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.