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CIT provides $60M to renovate Torrey Pines Court

CIT Group Inc. (NYSE: CIT), a provider of commercial lending and leasing services, Wednesday announced that CIT Real Estate Finance provided a $60 million senior secured credit facility to a joint venture between Rockwood Capital and The Muller Company, two real estate investment firms, to refinance existing debt and fund the renovations of Torrey Pines Court.

Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

Torrey Pines Court is a five-building Class A office campus consisting of 206,128 square feet situated on 9.24 acres directly adjacent to the 1oth hole of Torrey Pines Golf Course in La Jolla.

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