finance

CIT Arranges $53MM in Financing for Acquisition of Industrial Properties

Written by IhebQld

CIT’s real estate finance business served as lead arranger on $53 million in financing for the acquisition of six industrial properties.

The borrower, Aminim Group, acquired the portfolio of properties, which are located in the Baltimore and Washington, D.C., area. The properties collectively encompass nearly 500,000 square feet of industrial space with lease agreements to existing tenants.

“Demand is strong for logistical facilities in the Mid-Atlantic region and this new portfolio of properties is well positioned to support that market demand,” Nir Kriel, CEO of Aminim Group and the Apexus Logistics discretionary fund, said. “We have previously partnered with CIT and are again pleased by the expertise and agility they demonstrated in arranging financing for this acquisition.”

Established in 1996, Aminim Group is a privately held commercial real estate investment company based in Houston. In the last two years alone, the company has purchased more than 3 million square feet of logistics, industrial and other commercial space in the United States and separately also purchased more than 10,000 multi-family apartment units since establishment.

“Aminim Group is continuing to grow its reputation for smart and successful real estate investments across the country,” Chris Niederpruem, managing director and group head for CIT’s real estate finance business, said. “We were pleased to again work with Aminim Group to meet their financing needs and look forward to additional opportunities to support their future investments.”

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