CIT Group’s Power and Energy unit served as sole lead arranger on a $42.8 million in debt financing to support NY Solar Farms, a 70-megawatt community solar portfolio located in Central and Northeastern New York State.
CIT Group served as administrative agent for an $87 million loan to finance construction of a new logistics warehouse and storage facility adjacent to John F. Kennedy International Airport in Queens, NY.
CIT Group’s Real Estate Finance unit provided $36.2 million in financing for the acquisition of Park Center, a 97% leased, multi-tenant office building in Plano, TX.
CIT Group has appointed Mihir J. Shah as director of technology originations in its Technology, Media and Telecommunications business
CIT Group’s Supply Chain Finance unit, part of its Commercial Services division, is expanding its capabilities, including the implementation of a new cloud-based supply chain finance platform.
CIT Group’s Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America self-storage facilities.
Bob McElyea has joined CIT Group as managing director leading CIT’s Merchant and Card Initiative in the Treasury and Payment Services group.
David S. Bagatelle has joined CIT as a managing director and will lead the relationship commercial banking activity in the Eastern region.