CIT Provides $26MM in Financing for PGA Plaza Shopping Center
CIT said that CIT Real Estate Finance provided a $26 million senior secured credit facility to redevelop the PGA Plaza Shopping Center in Palm Beach Gardens, FL.
CIT said that CIT Real Estate Finance provided a $26 million senior secured credit facility to redevelop the PGA Plaza Shopping Center in Palm Beach Gardens, FL.
The Snoqualmie Indian Tribe announced it finalized a refinancing with the closing of a new $310 million credit facility. The facility was led by BofA Merrill with CIT, Key Bank and Capital One serving as joint lead arrangers.
CIT reported net income of $130 million for Q4/13, compared to net income of $207 million for Q4/12. Net income for the year ended December 31, 2013 was $676 million, compared to a net loss of $592 million for the year ended December 31, 2012.
CIT Real Estate Finance provided a $33 million senior secured credit facility to Exeter Property Group, a real estate private equity firm.
CIT said it arranged a $110 million senior secured credit facility for Levine Leichtman Capital Partners’ acquisition of Genova Diagnostics.
CIT said it appointed Barbara A. Callahan as SVP and head of Investor Relations. She replaces Ken Brause, who has been appointed CFO of the North American Commercial Finance segment.
Mid-market commercial real estate executives express cautious optimism toward the market, although current tax and regulatory climate is placing a strain on the performance of their companies, according to a CIT survey.
Despite ongoing challenges facing the retail sector and the economy, more than 70% of middle-market housewares executives are forecasting stronger sales performance in 2014, according to a recent survey by CIT
A new retail outlook survey from CIT finds that while 45% of middle-market retail executives believe an economic recovery is underway, 55% don’t expect a recovery to materialize until later.
Camping World announced today it secured a $525 million multi-year floor plan credit facility. Bank of America, which serves as administrative agent, led the transaction.