CIT Arranges $10.1MM Financing for WLG Fremont to Build RTG Medical HQ

CIT’s middle market banking business arranged $10.1 million in financing for construction of a new owner-occupied office building in Fremont, NE.

The borrower, WLG Fremont, will use the financing to construct a 54,000 square foot office building to serve as the new headquarters for RTG Medical, a veteran-owned healthcare staffing agency supporting medical facilities nationwide.

In connection with the financing, CIT also is providing a package of treasury management and capital markets services. The project is being developed under the federal New Markets Tax Credit Program with Chase Community Equity, Chase New Markets Corporation, Hampton Roads Ventures, Massachusetts Housing Investment Corporation and Evernorth Rural Ventures.

“RTG Medical is arguably one of the fastest growing companies in Fremont and an outstanding market and community leader. This catalytic project will help attract and retain talent in both the Fremont and neighboring communities for years to come,” Arun Agarwal, CEO of White Lotus Group, manager of WLG Fremont, said.

“This facility is a big step forward for RTG Medical,” Jeremy Guenthner, COO of RTG Medical and a stakeholder in WLG Fremont, said. “We appreciated CIT’s expertise and agility in arranging financing to help move this project ahead.”

“We were pleased to work closely with WLG Fremont and RTG Medical to understand their requirements and arrange financing to meet their needs,” Tim Sullivan, president of CIT’s middle market banking business, said. “This new office building will support RTG’s growth and also contribute to the local economy.”

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