CIT Helps Refinance Florida Assisted Living Portfolio

CIT Group, through its Healthcare Finance business, served as sole lead arranger for a $64 million loan used to refinance three assisted living communities in Florida owned by the borrower, Virtus Real Estate Capital. Totaling more than 350 AL and memory care units, the properties are located in Clermont, Stuart and Tavares, Florida.

That comes out to over $180,000 per unit in financing. Not bad for these central Florida locations.

 

 

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