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Citizens Financial : Bank leads $69 million loan to Finmarc Management, Inc.

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04/05/2016 | 10:21pm CEST


Funds used to acquire eight office and industrial properties in Northern Virginia

WASHINGTON, D.C. - Citizens Bank announced today that it led a $69 million loan to Finmarc Management, Inc. for the acquisition of eight office and industrial properties, consisting of 26 buildings totaling nearly 950,000 square feet in northern Virginia. Citizens Bank is Joint Lead Arranger and Administrative Agent of the bank group.

Bethesda, Md.-based Finmarc is a commercial real estate company focused on real estate investment, management, leasing and development of retail, industrial/flex projects and office buildings throughout the Mid-Atlantic region. With this acquisition, the firm's portfolio exceeds 5.7 million square feet.

A mix of office, office/light industrial and warehouse/flex properties, the acquisition includes the Van Buren Office Park and Herndon Corporate Center in Herndon; the Reston Business Campus on Pinecrest Road in Reston; the Gateway Center Manassas, Windsor at Battlefield Manassas and Linden Business Center in Manassas; the Enterprise Center in Chantilly; and the Prosperity Business Center in Merrifield.

'Citizens Bank's Commercial Real Estate Finance team has been a great partner on this major acquisition, as well as the several other transactions we have done together,' said Marc Solomon, Partner of Finmarc Management, Inc. 'Citizens' bankers bring great ideas, a wealth of experience and the ability to execute transactions quickly and seamlessly.'

'The team at Finmarc has in-depth experience with value-add real estate opportunities,' said Tim Leon, Executive Vice President of Commercial Real Estate Finance for the Mid-Atlantic Region at Citizens Bank. 'We're very happy to work with them and be able to help them achieve their strategic and financial goals.'

Citizens' Commercial Real Estate Finance team provides individual loans of more than $15 million focusing on deals and sponsors in the bank's 11-state footprint from Massachusetts to Michigan. The bank also funds deals outside the bank's footprint with existing clients. Citizens makes loans for multifamily, office, retail and industrial properties and selectively considers hospitality properties.

For more information about real estate financing options and more from Citizens, visit the Citizens Commercial Bankingwebsite.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $138.2 billion in assets as of December 31, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middlemarket companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers 'bank better' with mobile and online banking and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, MidAtlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and notforprofit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.

Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.

Citizens Financial Group Inc. issued this content on 05 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 April 2016 20:20:05 UTC

Original Document: http://investor.citizensbank.com/about-us/newsroom/latest-news/2016/2016-04-05a.aspx

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Financials ($)
Sales 2018 6 098 M
EBIT 2018 2 531 M
Net income 2018 1 656 M
Debt 2018 -
Yield 2018 2,37%
P/E ratio 2018 12,17
P/E ratio 2019 11,00
Capi. / Sales 2018 3,31x
Capi. / Sales 2019 3,14x
Capitalization 20 213 M
Duration : Period :
Citizens Financial Group Technical Analysis Chart | CFG | US1746101054 | 4-Traders
Technical analysis trends CITIZENS FINANCIAL GROUP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 49,2 $
Spread / Average Target 18%
EPS Revisions
Bruce Winfield van Saun Chairman & Chief Executive Officer
John F. Woods Chief Financial Officer & Executive Vice President
Brian O'Connell Head-Technology Services
Charles John Koch Independent Director
Shivan S. Subramaniam Independent Director
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