We will provide stabilized, value-add and construction loans in excess of $20 million to highly experienced and well-capitalized developers in the office, retail, industrial and multi-family rental sectors.
NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies, today announced the launch of CIT Real Estate Finance, which will originate and underwrite senior secured real estate transactions in the Boston, New York City and Washington, D.C. markets. Matthew E. Galligan (57), Executive Vice President, has been appointed as Group Head reporting to CIT Group Inc. President Nelson J. Chai.
“CIT Real Estate Finance will offer commercial real estate loans to top tier sponsors and developers in major cities we know well,” said Mr. Galligan. “We will provide stabilized, value-add and construction loans in excess of $20 million to highly experienced and well-capitalized developers in the office, retail, industrial and multi-family rental sectors.”
Mr. Chai said, “The launch of CIT Real Estate Finance highlights our focus on growth opportunities and efforts to source and build assets at CIT Bank. The deep relationships and industry expertise of our team will enable us to capitalize on market conditions while pursuing a conservative approach in middle market commercial real estate financing.”
The CIT Real Estate Finance leadership team includes:
- Matthew E. Galligan, Executive Vice President and Group Head
Galligan most recently served as Managing Director and Head of US Property Finance for Bank of Ireland where under his leadership his team negotiated and closed more than 30 transactions totaling $2 billion. Before joining Bank of Ireland, he served as Executive Vice President for Real Estate Capital Markets at DebtX. He has also worked for Fleet Boston Financial, Bank of Boston, and Chase Manhattan in executive level positions in credit, real estate lending, debt distribution and capital markets. Galligan received a BA in Economics/Accounting from the College of the Holy Cross and an MBA in Finance from the New York University Graduate School of Business Administration.
- Meggan Walsh, Managing Director
Prior to CIT, Walsh was Managing Director of US Property Finance for Bank of Ireland where she was senior marketing persondirectly responsible for the origination of new construction, acquisition, subordinate and investment loans for office, retail, residential, rental and condominium properties. Before joining Bank of Ireland, she was Senior Vice President for the National Real Estate Group at LaSalle Bank. She also worked in executive level positions for Hypo Bank, Banque Paribas, and Chase Manhattan Bank in real estate lending, valuation, marketing and structuring. Walsh received a BA in English and Politics from Ithaca College and holds a Certificate in Real Estate Finance from New York University.
- Christopher Niederpruem, Director
Before CIT, Niederpruem served as Director of US Property Finance for Bank of Ireland where he was responsible for new business origination and loan structuring.
Before joining Bank of Ireland, he worked for the Commercial Real Estate Banking Group of Anglo Irish Bank in New York where he focused on underwriting commercial mortgage loans for major US investors and managed a team of analysts. Niederpruem received a BA in English from Le Moyne College in Syracuse, NY.
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Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $34 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. cit.com