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


Citizens Bank Provides $22.7MM Term Loan to Linear Retail Properties

October 22, 2015, 08:04 AM
Filed Under: Real Estate
Related: Citizens Bank

Citizens Bank provided a $22.7 million term loan to Linear Retail Properties. Linear Retail is a leading owner, developer and operator of retail properties throughout New England. The company focuses on acquiring well-located properties and improving their performance. As of today, Linear’s portfolio consists of 80 properties in Massachusetts, New Hampshire and Rhode Island.

“As a new client, we were impressed by how quickly and effectively the Citizens Commercial Real Estate Finance team was able to complete this transaction,” said Bill Beckeman, President and CEO of Linear Retail. “The funds will be used to finance seven of our properties in Greater Boston and we look forward to working more with Citizens in the future.”

“Linear Retail has a great business and we’re excited to be able to help them achieve their strategic and financial goals,” said Gary Magnuson, Head of Commercial Real Estate Finance at Citizens.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $137.3 billion in assets as of June 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.

Comments From Our Members

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