CIT’s Real Estate Finance business recently loaned Aminim Group $37.2 million to finance the purchase of a bulk distribution facility in Pittsburgh.
The more than 510,000-square-foot industrial distribution facility is located near downtown and several interstate highways. It is leased to Amazon.com and Nogin and serves as one of Amazon’s two sortation facilities in the region.
Founded in 1996, Aminim Group is a commercial real estate investment company that has acquired more than 2 million square feet of logistics, industrial, and other commercial space in the United States, Canada, and Europe. It is based in Houston, Texas, and Israel.
“Given its optimal location, the facility is well-positioned to provide logistical connectivity to (more than) 800,000 consumers within a 30-minute drive and major population centers across the Mid-Atlantic,” Nir Kriel, Aminim Group CEO, said. “We’ve previously partnered with CIT and are again pleased by the expertise and agility they demonstrated in arranging financing for this acquisition.”
“Aminim Group is well-known for its successful real estate investments across the country,” Chris Niederpruem, CIT Real Estate Finance managing director and group head, said.
CIT is a division of First Citizens Bank. Its Real Estate Finance business, part of the Commercial Finance group, originates and underwrites senior secured real estate transactions.