03/20/2017
Citizens Bank leads $33.75 million credit facility for acquisition and renovation of industrial / warehouse complex
ENFIELD, CT – Citizens Bank announced today that Citizens Commercial Banking is leading a $33.75 million credit facility for WE 25 Bacon Road LLC to finance the acquisition and renovation of an industrial/warehouse complex at 25 Bacon Road by Winstanley Enterprises. Citizens is the lead arranger and administrative agent.
“Citizens has been one of Winstanley Enterprises’ most trusted and reliable debt financing partners,” said Adam Winstanley of Winstanley Enterprises. “Their creativity and ability to close quickly on transactions has been instrumental in our success and we are pleased to have them lead this financing.”
“Winstanley Enterprises is a longtime client and we look forward to continuing to work with the great team there on more projects in the future,” said Gary Magnuson, executive vice president and head of Commercial Real Estate Finance at Citizens Bank. “Providing construction loans is just one of the ways that Citizens can deliver value for clients.”
Citizens’ Commercial Real Estate Finance team provides project finance loans of more than $20 million, focusing on building relationships with strong commercial real estate sponsors located in the bank’s market coverage. Citizens makes loans for multifamily, office, retail, industrial and hospitality properties.
Citizens is positioned as a strategic and financial partner, offering deep expertise, great ideas and seamless deal execution. The Citizens Commercial Banking approach puts clients first, and offers solutions that help clients make the best decisions throughout the life cycle of their business.
For more information about real estate financing options and more from Citizens, visit the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $149.5 billion in assets as of December 31, 2016. 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 wealth management, 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 as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
