Bulfinch Completes Financing of Waltham Lab Building with Citizens Commercial Banking
NEEDHAM, MA – November 6, 2014 - The Bulfinch Companies, Inc., a private Greater Boston commercial real estate investment firm, today announced it has closed a long-term fixed rate loan with Citizens Commercial Banking on an office and laboratory building in Waltham, MA. With approximately $131.3 Billion in assets, Citizens Financial Group, the parent of Citizens Commercial Banking, is one of the oldest and largest financial institutions in the country.
“We have worked with Citizens’ Commercial Real Estate team for many years and enjoy a special relationship built on trust and mutual respect." said Eric D. Schlager, Chief Executive Officer of Bulfinch. “We were very pleased with the execution of the transaction, and look forward to expanding our long-term relationship with Citizens Commercial Banking.”
“Having successfully worked with the Bulfinch Senior Management Team in the past, we remain confident in the long-term success of the sponsorship, the enduring nature of the Waltham location and the future of the asset,” said Gary Magnuson, Head of Citizens Commercial Real Estate. “We look forward to continuing to work with Bulfinch on future transactions.”
About The Bulfinch Companies, Inc.
The Bulfinch Companies, Inc. is an entrepreneurial, value-added real estate investment firm specializing in the acquisition, development, management, and repositioning of commercial properties in Greater Boston. Since inception in 1936, Bulfinch, and its affiliates, have developed, acquired and repositioned over $1 Billion of commercial real estate. For more information, visit http://www.bulfinch.com.
About Citizens Financial Group, Inc.
Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $131.3 billion in assets as of September 30, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking 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 and Charter One 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 selective markets nationwide. Citizens Commercial Banking 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 via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.