PR Newswire | Aug 11, 2021 09:02AM EDT

F Street Investments

08/11 08:00 CDT

CIT Northbridge Serves as Sole Lead Arranger on $25 Million Credit Facility for F Street Investments NEW YORK, Aug. 11, 2021

NEW YORK, Aug. 11, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $25 million credit facility for F Street Investments LLC, a lender to real estate investors and developers.

Based in Milwaukee, Wisconsin, F Street Investments LLC is part of the F Street Group, an investment company that includes a number of industry verticals, including real estate, hospitality, lending, and emerging markets.

"The housing market has strong fundamentals that should remain attractive for investment and development for years to come," said Scott Lurie, CEO and founder of F Street Group. "We appreciated the expertise and agility of the CIT Northbridge team in arranging the financing to support our operations and empower us to continue serving our clients."

"F Street is an experienced lender to real estate investors and developers throughout the upper Midwest," said Neal Legan, who leads CIT Northbridge. "We worked closely with the company's leadership to understand their needs and develop a financing package that advances their business strategy."

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

About CITCIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:John M. Moran212-461-5507john.moran@cit.com

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SOURCE CIT Group Inc.