NEW YORK, June 15, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Healthcare
Finance business served as sole lead arranger on a
$33.2 million loan to finance the
acquisition of a medical office building in Brooklyn, New York.
The class A medical office building is located at 902 Quentin
Road, Brooklyn. Built in 2013, it
features eight stories of medical office and academic space and an
on-site parking garage. The building is fully leased and benefits
from significant investment grade-rated tenants, including NYU
Langone Health and Touro College School of
Health Sciences. Services provided include a cancer center,
cardiology, gastroenterology and ophthalmology.
The buyer is an affiliate of Seavest Healthcare Properties, an
institutional manager of investments in medical properties
including medical office buildings and outpatient and specialized
treatment facilities that are strategic to health systems.
"We are pleased to add this class A medical office facility to
our portfolio of high-quality properties," said John Winer, Senior Managing Director & Chief
Investment Officer of Seavest Healthcare Properties. "The Midwood
section of Brooklyn where the
building is located is a vibrant community with a dense and well
insured population. We have worked with CIT to finance a number of
medical office buildings and again appreciated their responsiveness
and market knowledge in completing this transaction."
"Seavest Healthcare Properties has a strong reputation as a
leading investor in top-quality medical properties," said
William Douglass, managing director
and group head for CIT's Healthcare Finance business. "We
appreciate the opportunity to continue to support their acquisition
activity and provide the financing for this Brooklyn property."
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.