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Citizens Bank Leads $33.75MM Acquisition, Renovation Financing for Winstanley Enterprises

March 21, 2017, 07:00 AM
Filed Under: Real Estate

Citizens Bank announced that Citizens Commercial Banking is leading a $33.75 million credit facility for WE 25 Bacon Road LLC to finance the acquisition and renovation of an industrial/warehouse complex at 25 Bacon Road by Winstanley Enterprises.  Citizens is the lead arranger and administrative agent.

“Citizens has been one of Winstanley Enterprises’ most trusted and reliable debt financing partners,” said Adam Winstanley of Winstanley Enterprises. “Their creativity and ability to close quickly on transactions has been instrumental in our success and we are pleased to have them lead this financing.”

“Winstanley Enterprises is a longtime client and we look forward to continuing to work with the great team there on more projects in the future,” said Gary Magnuson, executive vice president and head of Commercial Real Estate Finance at Citizens Bank. “Providing construction loans is just one of the ways that Citizens can deliver value for clients.”

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