Citizens Financial leads $98.7 million loan to Houston-based Hanover Company

26/10/2022

Citizens leads $98.7 million loan to Houston-based Hanover Company

The funds will finance the construction of a six-story multi-family housing project in Orange County, California.

PROVIDENCE, RI – Citizens today announced that its commercial real estate finance team has provided a $98.7 million loan to the Houston-based Hanover Company for the construction of a six-story, multi-family 309 accommodations in Laguna Niguel, CA. Citizens is the Co-Lead Arranger and Administrative Agent.

Hanover Company is a private real estate company specializing in the development and management of multi-family residential properties nationwide. Founded nearly four decades ago, Hannover’s completed projects total nearly 75,137 units nationwide and more than $20.7 billion in project capitalization, including $2.8 billion currently under construction. US markets include Atlanta, Austin, Boston, Charlotte, Dallas, Denver, Florida, Houston, Los Angeles, Philadelphia, Phoenix, San Diego, San Francisco and Washington, DC

Citizens has financed the construction of seven multi-family projects in Hanover since 2015, including properties in Philadelphia, Denver, Oakland, San Francisco and two in Houston.

“Citizen Bankers have become our trusted financial and strategic partners by providing great insights and seamless deal execution,” said Ben Whitman, vice president of Hanover Company. “The Citizens team is solution-focused and has deep industry knowledge.”

Citizens is a trusted strategic and financial partner, consistently providing clear and objective advice. The Citizens approach puts customers first by delivering great ideas combined with deep market knowledge and excellent execution to help our clients improve their business and their potential.

For more information, visit the Citizens website.

About Citizens Financial Group, Inc..
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $224.7 billion in assets as of September 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a wide range of retail and commercial banking products and services for individuals, small businesses, ETIs, large corporations and institutions. Citizens helps its clients reach their potential by listening to them and understanding their needs in order to offer advice, ideas and tailor-made solutions. In Consumer Banking, Citizens offers an integrated experience that includes mobile and online banking, a full-service customer contact center, and the convenience of approximately 3,400 ATMs and approximately 1,200 branches in 14 states and the district. of Columbia. Consumer Banking’s products and services include a full suite of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a wide range of financial products and solutions, including lending and leasing services, deposit and cash management services, foreign exchange risk management solutions, interest rates and commodities, as well as loan syndication, corporate finance, mergers and acquisitions, and debt and equity markets capabilities. More information is available at www.citizensbank.com or visit us at TwitterLinkedIn or Facebook.

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