CIT Provides $37.2MM in Financing to Aminim Group for Distribution Facility
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 a $37.2 million loan to Aminim Group to finance the acquisition of a bulk distribution facility in Pittsburgh.
CIT appointed Geoff Black to the position of managing director and group head for the lender finance business within its business capital division. Black joined CIT in 2006 and, in his most recent role, he was responsible for originating and growing relationships.
CIT hired Howard Moore and Paul Pagano as business development directors in the Northeast and promoted Michael Rayner to director and team leader in the West for its commercial services business.
CIT’s asset-based lending business served as lead arranger on financing for Kenneth Cole Productions, a men’s and women’s fashion brand.
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, a division of First Citizens Bank, launched a new lending and leasing vertical focused on financing fleet golf cars, turf (grounds care) equipment, utility vehicles and similar equipment. Shawn Foy will lead the new vertical.
The middle market banking business of CIT, a division of First Citizens Bank, provided $30 million toward construction and enhancement of school facilities in Wahoo, NE.
Findings of a new survey of small and midsized business leaders conducted by The Harris Poll and sponsored by CIT say businesses are investing in technology to expand online operations and facilitate remote work during the pandemic.
CIT reorganized its commercial services factoring business, with Marc Heller, president of CIT commercial services, now reporting directly to Peter Bristow, president of First Citizens Bank, and Michael Hudgens now leading commercial services as managing director and group head.
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.