10/14/2015
Citizens Bank provides $22.7 million commercial term loan to Linear Retail Properties
BOSTON – Citizens Bank announced today that it has 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.
For more information about Citizens, go to the Citizens Commercial Banking web site.
About Citizens Financial Group, Inc.
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. In Consumer Banking, Citizens 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 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 select markets nationwide. In Commercial Banking, Citizens 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 through its 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.
