CIT Provides $38 Million Financing for Florida Apartment Complex


“Lakeside at winter park is in an attractive location within the Greater Orlando market, a geographic region that PRG has invested in and aligned with for many years,” he said Ron organ, Managing Director and Head of East Coast Acquisitions at PRG. “Given PRG’s valuable experience and knowledge of the Orlando market, we look forward to further developing and maintaining the facilities on the property, including improving the units and resident amenities. We value CIT’s agility and expertise in arranging this funding.”

“We regularly invest in residential real estate in large metropolitan areas and on lake shores winter park fits perfectly into our portfolio,” said Chris NiederprumManaging director and group leader of CIT’s real estate financing Business.

CIT’s real estate financing business, part of Trade Finance Division, initiates and underwrites primarily secured real estate transactions. With extensive market knowledge, underwriting experience and industry relationships, the group offers financing for individual properties, property portfolios and loan portfolios.

About CIT
CIT is a leading national bank focused on giving businesses and individual savers the financial flexibility to achieve their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal banking subsidiary, CIT Bank, NA (Member FDIC, Equal Housing Lender). The Company’s commercial banking segment includes corporate finance, community banking, middle market banking, equipment and supplier finance, factoring, railcar finance, treasury and payment services, and capital markets and wealth management. CIT’s consumer banking segment includes a national direct bank and a regional branch network. Discover more below cit.com/about.

MEDIA RELATIONS:
John M. Moran
212-461-5507
[email protected]

SOURCE CIT Group Inc.

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http://www.cit.com

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