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First Citizens Bank Provides $31.5MM in Financing to Fashion Retailer Jaclyn

May 30, 2024, 07:37 AM
Filed Under: Retail

First Citizens Bank's Middle Market Banking business provided $31.5 million in financing to national fashion retailer Jaclyn LLC for the purchase of a newly constructed industrial warehouse and distribution center in Southern California.
The warehouse comprises more than 233,000 square feet and will serve as the new West Coast shipping and distribution center for Jaclyn and its affiliated companies of the Golden Touch Group, providers of merchandise and services to retailers and manufacturers.

"We have a long-established history partnering with First Citizens on strategic ventures that add value to our business," said John Bang, CFO of Jaclyn and Golden Touch. "The solutions-driven approach of the teams at First Citizens delivers expertise, agility and thoroughness to the financing process."

"We appreciate the opportunity to support Jaclyn and Golden Touch's purchase of a new distribution center with owner occupied real estate financing, a core capability of our Middle Market Banking business," said Brendan Chambers, Head of First Citizens Middle Market Banking.

"Jaclyn and Golden Touch are reputable brands and operators who have strong track records and valuable connections with many well-known national retailers," said Sarah Warren, Managing Director at First Citizens. "We're pleased to strengthen our 25-year banking relationship with them through this financing."

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