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CIT Provides $29.9MM Financing for Portfolio of Industrial Buildings in Greater Chicago

March 29, 2022, 07:35 AM
Filed Under: Real Estate

CIT, a division of First Citizens Bank, announced that its Real Estate Finance business provided a $29.9 million loan for the acquisition of a portfolio of industrial buildings in Greater Chicago by Aminim Group.
The portfolio consists of three industrial buildings, all of which are in close proximity to the major four-way interchange I-294, and two of which are located within one mile from O'Hare International Airport. The buildings are currently fully leased by six tenants in various industries.

"The convenient location of these properties in a growing market, and with easy access to the I-294 freeway, makes them an attractive investment," said Nir Kriel, CEO of the Aminim Group and the Apexus Logistics discretionary Fund. "We appreciated CIT's ability to close the loan swiftly, which helped enable a seamless, successful transaction."

Aminim Group is a privately held, commercial real estate investment company based in Houston, Texas and Jerusalem, Israel. Since its establishment in 1996, the company has purchased over two million square feet of logistics, industrial and other commercial space in the U.S., Canada and Europe.

"The Chicago industrial market is experiencing steady leasing growth, making this acquisition a solid addition to Aminim Group's portfolio," said Chris Niederpruem, managing director and group head for CIT's Real Estate Finance business. "We were pleased to leverage our expertise to assist Aminim Group in completing this purchase."

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