Daily News: September 11, 2019

CIT Leads $34MM Financing for Assisted Living Facility

CIT Group’s Healthcare Finance unit served as sole lead arranger on a $34 million financing for the Delaney, an assisted living facility in Richmond, TX,

The loan will be used primarily to refinance construction debt on the Delaney, a 207-unit senior housing community. The borrower is a joint venture between Blue Moon Capital Partners and LCS, an operator of senior living communities.

“CIT’s expertise in the healthcare sector and efficient underwriting process helped us reach agreement and arrange for a smooth closing on the financing for this project,” said Chris Kronenberger, of Blue Moon Capital Partners