CIT Group announced that CIT Communications & Technology Finance served as sole lead arranger and administrative agent in a senior secured credit facility to Central States Tower. Financing was provided by CIT Bank.

CST is a leading middle market operator and developer of wireless communications towers and a portfolio company of Sweetwater Capital.

Since 2006, CST has successfully constructed over 500 new wireless communications tower sites throughout the U.S. Through this current financing with CIT and Sweetwater, CST has secured up to $75 million in new debt and equity financing.

“With this new financing in place, we will be able to seamlessly continue to develop and construct new tower sites,” said Brian Meier, CEO of Central States Tower. “We are extremely excited to work with CIT and Sweetwater again, both of whom have been valued and trusted partners.”

“We have maintained a strong relationship with CST and Sweetwater Capital over the past eight years,” said Tom Westdyk, group head and managing director of CIT Communications & Technology Finance. “CST has a highly experienced management team with a proven track record that operates in an industry sector with very strong and stable fundamentals.”