NEW YORK, April 12, 2019 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance unit arranged $14.8 million in financing for the acquisition of Greenville Medical Tower in Dallas, Texas.
The financing was arranged on behalf of a joint venture managed by Catalyst Healthcare Real Estate and Bain Capital Real Estate, which acquired the six-story medical office building, which is located across the street from the 857-bed Texas Health Presbyterian Hospital Dallas.
"The robust demand for healthcare services in the Greater Dallas-Fort Worth market means the Greenville Medical Tower will continue to play an important role in serving the community," said Catalyst Senior Vice President Alex Bell.
"We are pleased to provide financing in support of Catalyst and Bain Capital Real Estate's acquisition of this high-quality property," said William Douglass, managing director and group head for CIT's Healthcare Finance unit. "Our industry knowledge, experience and expertise are assets that we're proud to leverage to meet our clients' needs."
CIT's Healthcare Finance unit, part of the company's Commercial Finance division, provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. By using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital.
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience, approximately $50 billion in assets as of Dec. 31, 2018, and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, real estate financing, equipment financing, factoring and railcar financing. CIT's consumer banking segment includes its national online bank, CIT Bank, and a Southern California branch bank, OneWest Bank. Discover more at cit.com/about.
SOURCE CIT Group Inc.