CIT Leads $53 Million Financing for Industrial Properties in Washington-BWI | The Economy Digest

CIT Leads $53 Million Financing for Industrial Properties in Washington-BWI

CIT Leads $53 Million Financing for Industrial Properties in Washington-BWI

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business served as lead arranger on $53 million in financing for the acquisition of six industrial properties.

The borrower, Aminim Group, acquired the portfolio of properties, which are located in the busy Baltimore-Washington D.C. area with easy access to major transportation corridors. The properties collectively encompass nearly 500,000 square feet of industrial space with strong lease agreements to existing tenants.

“Demand is strong for logistical facilities in the Mid-Atlantic region and this new portfolio of properties is well positioned to support that market demand,” said Nir Kriel, CEO of Aminim Group and the Apexus Logistics discretionary fund. “We have previously partnered with CIT and are again pleased by the expertise and agility they demonstrated in arranging to finance for this acquisition.”

Established in 1996, Aminim Group is a privately held, commercial real estate investment company based in Houston, Texas. In the last 2 years alone, the company has purchased over 3 million square feet of logistics, industrial, and other commercial space in the U.S, and separately also purchased over 10,000 multi-family apartment units since its establishment.

“Aminim Group is continuing to grow its reputation for smart and successful real estate investments across the country,” said Chris Niederpruem, managing director and group head for CIT’s Real Estate Finance business. “We were pleased to again work with Aminim Group to meet their financing needs and look forward to additional opportunities to support their future investments.”

CIT’s Real Estate Finance business, part of the Commercial Finance group, originates and underwrites senior secured real estate transactions. With deep market expertise, underwriting experience, and industry relationships, the group provides financing for single properties and property portfolios.

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