CIT Serves as Sole Lead Arranger on $15.9 Million Financing for Medical Office Buildings

NEW YORK, April 14, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $15.9 million financing for two medical office buildings in Littleton, Colorado.

The buildings, known as Arapahoe Medical Plaza I and II, are located on the campus of Littleton Adventist Hospital and comprise more than 98,700 square feet of space. The borrower is a venture led by an affiliate of Seavest Healthcare Properties.

"Our adjoining medical office buildings provide convenient, modern space for medical practices providing a wide range of healthcare services," said John Winer, Senior Managing Director & CIO of Seavest Healthcare Properties. "CIT's expertise was evident and helpful as we looked to finance these properties."

"Seavest Healthcare Properties is recognized throughout the industry as a deeply experienced investor in high-quality medical office buildings," said William Douglass, managing director and group head for CIT's Healthcare Finance business. "We were pleased to work with Seavest once again to support their financing needs for these properties."

CIT's Healthcare Finance unit, part of the 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, the Healthcare Finance team can tailor its products and services to help clients meet their needs for growth capital.

About CIT
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 and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

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John M. Moran
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SOURCE CIT Group Inc.

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