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Florida & Gulf Coast  + South Florida  + Industrial  |  August 30, 2021
David Cohen
By: David Cohen

CIT Group Arranges $26M Acquisition Loan for West Palm Industrial Portfolio

CIT Group has arranged a $26 million acquisition loan for a three-building portfolio of industrial buildings in West Palm Beach.

The properties comprise nearly 200,000 square feet of industrial space across more than 11 acres on West Palm Beach’s North Florida Mango Road, in close proximity to Interstate 95, the Florida Turnpike and West Palm Beach International Airport. The property was acquired by an entity managed by Alliance HP, a leading real estate investor across the Eastern U.S.

“Alliance HP has a well-earned reputation for recognizing commercial real estate opportunities and leasing properties to their full potential,” said Chris Niederpruem, managing director and group head for CIT’s Real Estate Finance business. “We were pleased to assist in financing this acquisition and look forward to future occasions to support the growth of their portfolio.”

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Inside The Story

CIT’s Niederpruem

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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