FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


CIT Arranges $10.1MM Loan for Nebraska Office Building

February 11, 2021, 07:30 AM
Filed Under: Real Estate

CIT Group's Middle Market Banking business arranged $10.1 million in financing for construction of a new owner-occupied office building in Fremont, Nebraska.

The borrower, WLG Fremont LLC, will use the financing to construct a 54,000-square-foot office building to serve as the new headquarters for RTG Medical, a veteran-owned healthcare staffing agency supporting medical facilities nationwide.

In connection with the financing, CIT is also providing a package of treasury management and capital markets services. The project is being developed under the federal New Markets Tax Credit Program with Chase Community Equity, Chase New Markets Corporation, Hampton Roads Ventures, Massachusetts Housing Investment Corporation, and Evernorth Rural Ventures.

“RTG Medical is arguably one of the fastest growing companies in Fremont, and an outstanding market and community leader. This catalytic project will help attract and retain talent in both the Fremont and neighboring communities for years to come,” says Arun Agarwal, CEO of White Lotus Group, manager of WLG Fremont.

“This facility is a big step forward for RTG Medical,” said Jeremy Guenthner, RTG Medical’s chief operating officer and a stakeholder in WLG Fremont. “We appreciated CIT’s expertise and agility in arranging financing to help move this project ahead.”

“We were pleased to work closely with WLG Fremont and RTG Medical to understand their requirements and arrange financing to meet their needs,” said Tim Sullivan, president of CIT’s Middle Market Banking business. “This new office building will support RTG’s growth and also contribute to the local economy.”

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.