NEW YORK, April 22, 2021 / PRNewswire / – CIT Group Inc. (NYSE: CIT) introduced immediately that its Well being finance firm served as a sole chief on a $ 19.3 million mortgage to finance the acquisition of Sugar Creek Well being Middle in Sugar Land, Texas.
Sugar Creek Well being Middle, an 84,646 sq. foot medical workplace constructing situated roughly 20 miles southwest of Houston, is rented to a various mixture of tenants who present quite a lot of medical providers together with day surgical procedure, imaging, orthopedics, girls’s well being, dentistry and optometry, amongst others.
The borrower is a subsidiary of Virtus Actual Property Capital, a number one investor in medical workplace buildings with intensive expertise working with CIT on acquisition finance.
“The Sugar Creek Well being Middle is a lately modernized facility that provides a variety of medical providers in a handy, high-growth location,” stated Matt Withey, Managing Director of Virtus Actual Property Capital. “We’re delighted so as to add this medical workplace constructing to our portfolio and completely happy to proceed our funding relationship with CIT.”
“We had been delighted to as soon as once more help Virtus Actual Property Capital by funding the acquisition of this worthwhile healthcare facility, which gives medical care to sufferers in a big and rising area,” stated William douglass, Managing Director and Head of CIT’s Group Well being finance enterprise.
CIT Well being finance unit, a part of the Industrial finance division, gives complete financing and banking options to mid-market healthcare corporations throughout america Utilizing a client-centric and industry-centric mannequin, Healthcare Finance can tailor its services to assist its shoppers to fulfill their progress capital wants.
CIT is a number one nationwide financial institution that goals to present companies and private savers the monetary flexibility they should obtain their objectives. CIT Group Inc. (NYSE: CIT) is a monetary holding firm with over a century of expertise and operates a main banking subsidiary, CIT Financial institution, NA (FDIC member, Equal Housing Lender). The Firm’s Industrial Banking phase consists of commerce finance, group affiliation banking, center market banking, gear and vendor finance, factoring, railcar finance, treasury providers and fee, in addition to monetary markets and asset administration. CIT’s shopper banking phase features a nationwide direct financial institution and a community of regional branches. Be taught extra about cit.com/about.
John M. Moran
SOURCE CIT Group Inc.