10/02/2017
Citizens Bank Provides $30 Million in Financing for Downtown Columbus Office Building
COLUMBUS, Ohio – Citizens Bank announced today that Citizens Commercial Banking has provided a $30 million loan to a partnership between Chicago-based HEARN company and Boston-based CrossHarbor Capital Partners, LLC, for the financing of 10 West Broad Street in downtown Columbus. The loan includes funds necessary for future capital projects and leasing costs. Citizens is the sole lender.
The property is a 25-story, 407,472 square-foot Class A office tower with enclosed access to a covered parking garage and several amenities including a fitness center and conference facilities for tenants.
CrossHarbor is a real estate investment management firm founded in 1993, which has invested more than $12 billion in commercial real estate.
“We greatly value our partnership with Citizens Bank and appreciate the Commercial Real Estate team’s excellent ideas and seamless deal execution,” said Patrick O’Sullivan, chief financial officer of CrossHarbor Capital Partners. “This is our second partnership with Citizens and we look forward to continuing to work with the team in the future.”
“Capex financing is just one of the ways that the Commercial Real Estate team is helping clients such as CrossHarbor Capital Partners,” said Gary Magnuson, head of Commercial Real Estate for Citizens Bank. “This deal highlights Citizens’ strong commitment to Ohio and to helping Commercial clients reach their potential.”
Citizens is a trusted strategic and financial advisor, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.
For more information, please go to 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 $151.4 billion in assets as of June 30, 2017. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. 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 rate products and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
About HEARN Company
HEARN, headquartered in Chicago, has owned and operated institutional-quality commercial real estate throughout the United States since 1974. Supported by a full complement of in-house leasing, management, construction and consulting services, HEARN manages its own investments and partners with others. Please visit http://www.hearncompany.com.
