First Citizens Bank’s real estate finance group, part of the CIT division, provided a $48 million senior secured loan to finance the acquisition of the Dunson Grove apartment community in Davenport, FL.
First Citizens Bank’s real estate finance group, part of the CIT division, served as lead arranger on $65.7 million in financing to MainStreet Property Group for the development of The Spark Apartments, a 211-unit, Class A multifamily project in Redmond, WA.
CIT’s real estate finance business provided $34 million in financing for a joint venture between i.Park and Great Point Media for the development of Lionsgate Warburton Studios, an entertainment production facility in Yonkers, NY.
CIT’s real estate finance business provided $30 million for the acquisition of Madison Grove Apartments, a 171-unit multi-family complex located in the north Phoenix area, by Brass Enterprises.
CIT’s real estate finance business provided a $37.2 million loan to Aminim Group to finance the acquisition of a bulk distribution facility in Pittsburgh.
CIT’s real estate finance business provided $35.6 million for the acquisition of two multifamily residential properties in the North Shore area of Massachusetts. The name of the borrower was not disclosed.
CIT’s real estate finance business provided $51 million in financing for the acquisition of the Oceana Apartments in Avondale, AZ, by 29th Street Capital.
CIT’s real estate finance division provided financing for the acquisition of the Morada Plano Apartments in Plano, TX. The borrower for the financing is The Jacobson Company, a Los Angeles-based private real estate company.
CIT’s real estate finance business served as sole lead arranger on a $41.6 million loan for the acquisition and renovation of The Devonshire Apartments in Hemet, CA.