CIT Group provides commercial lender and leasing services, and announced this week that CIT Communications & Technology Finance services as Sole Lead Arranger and Administrative Agent in a senior secured credit facility to Central States Tower. Since 2006, CST has constructed over 500 tower sites throughout the country and is a portfolio company of Sweetwater Capital. 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, Chief Executive Officer of Central States Tower. “We are extremely excited to work with CIT and Sweetwater again, both of whom have been valued and trusted partners.”
William Marraccini, Partner of Sweetwater Capital, said, “Along with CST’s management team, we intend to continue to execute our successful business model to build the highest quality tower portfolio in the U.S. CIT’s deep industry expertise and experience, coupled with our long-standing relationship, are the reasons we continue to look to CIT as our debt financing partner.”
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