CIT Arranges $64M Refinancing for Assisted Living Portfolio in Florida

CLERMONT, STUART and TAVARES, Fla. — CIT Group’s Healthcare Finance division has served as sole lead arranger for a $64 million loan for three assisted living facilities in Florida.

The borrower, Virtus Real Estate Capital, is refinancing the 350-unit portfolio located in Clermont, Stuart and Tavares, Florida. The specific names of the communities were not disclosed.

Virtus Real Estate Capital, founded in 2003, has acquired 227 properties for a combined acquisition value of over $3.6 billion.