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CIT Serves as Sole Lead Arranger on $19.3 Million Financing for Texas Health Center

Press release content from PR Newswire. The AP news staff was not involved in its creation.
CIT Serves as Sole Lead Arranger on $19.3 Million Financing for Texas Health Center
April 22, 2021 GMT
(PRNewsfoto/CIT Group Inc.)
NEW YORK, April 22, 2021 /PRNewswire/ CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $19.3 million loan to finance the acquisition of the Sugar Creek Health Center in Sugar Land, Texas.
The Sugar Creek Health Center, a 84,646-square-foot medical office building located approximately 20 miles southwest of Houston, is leased to a diverse mix of tenants that provide various medical services including ambulatory surgery, imaging, orthopedics, women’s health, dentistry and optometry, among others. ....

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Slow going for office sales in 2020

Multitenant office sales in the Twin Cities took a hit in 2020 amid the pandemic and economic downturn.
Other than the $130 million sale of the West End Office Park in St. Louis Park, big sales were few and far between in the first half of 2020. In its midyear report, Newmark Knight Frank said Minneapolis-St. Paul total office sales stood at $526 million, down 38% from the previous year.
In the second half, sales activity picked up a bit with deals that include the $51.2 million sale of the Millwright Building in downtown Minneapolis and the $52.2 million sale of the UHG Optum Health Campus in Eden Prairie. ....

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