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CIT Secures $66M for Three BKM Industrial Assets

New York’s CIT Group Inc. has earned a clear endorsement from BKM Capital Partners after securing a total of $66 million in financing for three of the investment company’s industrial real estate holdings, one located in California and two in Arizona.

The financings supported the acquisition of three industrial properties that were part of a larger 11-property industrial portfolio recently acquired by BKM in Arizona, California and Washington.

The properties covered in the finance include:

– Broadwood Business Park, a four-building, 34-unit multi-tenant industrial property in Mesa, Arizona (Pictured)
– Vista Tech Center, a 54-unit multi-tenant industrial property in Vista, California
– Hohokam 10E, an 82-unit multi-tenant industrial property in Tempe, Arizona

According to BKM’s Brett Turner, “CIT’s agility and understanding of our niche investment strategy has made it easy to continue to work with them, particularly on complex transactions with multiple properties requiring certainty of execution in an expedited time frame.”

Read more at PRNewswire

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