NEW YORK, May 6, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Healthcare Finance
business served as sole lead arranger on a $17.4 million loan to finance the acquisition of
a portfolio of three medical office buildings in Bakersfield, California.
The medical office building portfolio includes more than 65,000
square feet, is fully leased and is located on the campus of
Bakersfield Heart Hospital. A majority of the building tenants are
practice groups affiliated with the hospital.
"We are pleased to add to our growing portfolio these
high-quality medical office buildings, which are strategically
located on-campus and under long-term leases to physician groups
that are affiliated with the hospital," said Dr. Eli Karlin, M.D., Chief Investment Officer,
Flagler Healthcare Investments. "We appreciate the agility and
medical office lending expertise of the CIT team to facilitate this
acquisition financing."
"It was a pleasure to provide the financing to support our
client's acquisition of this portfolio of outstanding medical
office buildings," said William
Douglass, managing director and group head for CIT's
Healthcare Finance business. "These facilities provide critical
medical care to Bakersfield and
the surrounding community."
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, 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 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.