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CIT Serves as Lead Arranger in $35.7MM in Garrison Investment Loan

February 19, 2013, 08:30 AM

CIT Group announced that it provided a senior secured loan to Garrison Investment Group, a leading middle-market credit, asset based and real estate investor located in New York City. The loan is secured by 12 recently acquired community and neighborhood shopping centers based in the Midwest.

CIT Real Estate Finance served as Lead Arranger for the transaction. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

Providing financing to Garrison Investment Group allows us to continue to serve the middle market through innovative financing solutions and services,” said Steve Reedy, managing director of CIT Real Estate Finance. “We remain focused on utilizing our deep industry expertise to continue to accelerate our growth and business development initiatives while providing value added financing to our clients.”

“CIT provided much more than just financing,” said Nathan Bagnaschi, vice president of Garrison Investment Group. “The CIT team worked side-by-side with us to understand our needs and provide a solid financing solution that provides us with the flexibility to support our continued success. We look forward to continuing to build upon this relationship.”

Garrison Investment Group is an alternative investment and asset management firm founded in March 2007 and headquartered in New York. Garrison has approximately $3 billion of committed and invested capital under management, a team of 62 employees, including 38 investment professionals with investments across corporate finance, real estate and structured finance.

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