10/21/2014
Citizens Commercial Banking provides $5 million in new real estate financing for Berkeley Carroll School in Park Slope, Brooklyn
Independent New York college prep school will use funds for future campus expansion
NEW YORK, NY (October 21, 2014) – Citizens Commercial Banking, the commercial banking division of Citizens Financial Group (NYSE: CFG), announced today that it is providing $5 million in new real estate financing to the Berkeley Carroll School, an independent college preparatory day school in Park Slope, Brooklyn, recently recognized as one of six U.S. “Schools of the Future” by the National Association of Independent Schools.
The funds are being used toward the purchase of a brownstone at 703 Carroll St., adjacent to Berkeley Carroll’s Lower School. The school, which provides coeducational programs for pre K-12 and enrolls about 900 students, plans to expand into the 7,524-square-foot space in the future.
“The Citizens Commercial Banking team has been a great financial partner,” said Robert D. Vitalo, Berkeley Carroll’s Head of School. “We have a long-term relationship with Citizens and appreciate the bank’s expertise and execution as we look to meet our financial goals.”
“The Berkeley Carroll School has a long tradition of academic excellence and we are excited to be working with the school as it grows and builds on that tradition,” said Jim Gaspo, Citizens’ New York president.
Formerly known as RBS Citizens, Citizens Commercial Banking is the commercial banking division of Providence, RI-based Citizens Financial Group. For more information about Citizens Financial Group, go to
citizensbank.com.
About Citizens Financial Group
Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $130.3 billion in assets as of June 30, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
