Daily News: April 29, 2013

CIT Provides Financing for Kushner Companies

CIT Real Estate Finance said it provided an $18.2 million senior secured loan to Kushner Companies, a diversified real estate company headquartered in New York City, to acquire and expand four multifamily apartment buildings. Financing was provided by CIT Bank. Terms of the transaction were not disclosed.

“The New York City metropolitan area continues to be one of the strongest markets for multifamily real estate today,” said Chris Niederpruem, managing director of CIT Real Estate Finance. “This is our second transaction with Kushner this year and we look forward to continuing to build this relationship as they build their portfolio of properties throughout New York City.”

Jared Kushner, president and CEO of the Kushner Companies, said, “We’ve built a solid relationship with CIT’s Real Estate team, whose industry expertise gives us confidence that our transactions will close quickly and efficiently as we continue to grow our real estate portfolio.”