Exeter, NH Citizens Bank provided a $43.7 million loan to Albany Road Real Estate Partners for the acquisition of a two-building, 300,000 s/f complex at 100 and 200 Domain Dr. in Exeter and Stratham, N.H., whose tenants include Timberland, Bauer, Garnet Hill and Liberty Mutual.
Formed in 2012 and headquartered in Boston and Nashville, Albany Road owns and manages more than $550 million of commercial real estate including office, retail and industrial properties.
“Citizens Bank’s Commercial Real Estate Finance team has been a great partner on this acquisition,” said Chris Knisley, president of Albany Road. “Citizens’ bankers bring great ideas, a wealth of experience and the ability to execute transactions quickly and seamlessly.”
“We were very happy to work with the Albany Road Real Estate Partners team on this deal and look forward to continuing to work with them in the future,” said Gary Magnuson, Executive Vice President and Head of Commercial Real Estate Finance at Citizens Bank.
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.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $140.1 billion in assets as of March 31, 2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid-Atlantic 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 not-for-profit 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.